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Jack Scoville

Jack Scoville is an often quoted market analyst in the grain and soft commodities sectors. You will find his commentary throughout the Reuters, Wall Street Journal, Dow Jones, Bloomberg, and Barron's publications. Contact Mr. Scoville at (312) 264-4322

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Grains Report 12/01/2025

By On December 1, 2025 - 9:49 AM · In Market Commentaries, Morning Grains & Softs Report
DJ U.S. Export Sales: Weekly Sales Totals-Dec 1
    For the week ended Oct 23, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
   The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
               wk’s net chg                  total
               in commitments             commitments      undlvd sales
                 this yr    next yr   this yr   last yr  this yr  next yr
wheat              499.8        0.0   16299.1   13354.2   5024.5     24.9
  hrw              175.1        0.0    6292.3    2990.0   1735.0      2.5
  srw               93.0        0.0    2201.9    2211.4    621.6     22.4
  hrs              141.6        0.0    4059.5    4421.0   1205.2      0.0
  white             35.0        0.0    3434.2    3507.4   1339.6      0.0
  durum             55.1        0.0     311.1     224.7    123.0      0.0
corn              1805.3      160.1   35365.6   25819.8  24681.6    847.5
soybeans          1449.8        0.0   16134.5   25858.5   9408.6      8.7
soymeal            640.0        0.0    6334.6    5533.5   5331.5      0.0
soyoil              29.8        0.0     161.8     119.3    144.9     11.5
upland cotton      132.8       35.0    4879.3    5663.4   3209.2    342.1
pima cotton          6.6        0.0     138.5     188.2     54.8      0.0
sorghum              2.2        0.0     677.5     756.0    528.6      0.0
barley               0.0        0.0      57.0      24.6     32.5      0.0
rice                78.6        0.0     992.0    1231.0    479.9      0.0
DJ U.S. Export Sales: Weekly Sales Totals-Nov 28
    For the week ended Oct 16, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
   The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
               wk’s net chg                  total
               in commitments             commitments      undlvd sales
                 this yr    next yr   this yr   last yr  this yr  next yr
wheat              341.3        0.0   15799.3   12942.8   4805.6     24.9
  hrw               76.5        0.0    6117.2    2851.7   1618.2      2.5
  srw               28.8        0.0    2108.9    2187.7    554.0     22.4
  hrs               98.1        0.0    3918.0    4295.8   1136.2      0.0
  white            101.9        0.0    3399.2    3383.0   1428.5      0.0
  durum             36.0        0.0     256.1     224.7     68.8      0.0
corn              2822.6      571.5   33560.3   23478.1  24208.8    687.4
soybeans          1108.0        0.0   14684.7   23793.5   9347.0      8.7
soymeal            543.1        0.0    5694.6    5325.2   5011.2      0.0
soyoil              19.1      -10.5     132.0     108.9    125.8     11.5
upland cotton      175.7       26.8    4746.6    5473.9   3251.3    307.1
pima cotton          5.0        0.0     131.9     176.6     58.3      0.0
sorghum             25.6        0.0     675.3     750.3    566.6      0.0
barley               0.0        0.0      57.1      22.0     32.9      0.0
rice                14.2        0.0     913.5    1218.3    443.9      0.0
DJ Canadian Grain Handling Summary For Nov 27
     WINNIPEG — The following are Canadian grain handling summary statistics
for the week ended Nov. 23, 2025. Figures in thousands of metric tons.
     Source: Canadian Grain Commission.
                  Durum
           Wheat  Wheat  Oats  Barley  Flax  Canola  Peas   Corn   Total*
COMMERCIAL STOCKS
This Week 2758.0  893.4  347.9  417.4  26.1  1374.3  291.3  183.1  7470.3
Week Ago  2022.5  263.7  242.7  282.2  27.5  1182.3  225.1  165.7  4924.7
Year Ago  2366.8  722.4  337.1  355.2  43.0  1348.6  317.9  188.1  6952.0
PRODUCER DELIVERIES
This Week  724.2  172.7   47.4   88.3   3.0   443.6   40.5   15.0  1650.8
Week Ago   587.5  168.1   41.0   73.5   5.0   363.6   39.8   14.2  1459.4
To Date   8700.5 2106.3  873.9 1846.2  62.8  5729.4 1249.4  236.1 23033.7
Year Ago  7675.1 1949.1  889.0 1384.0  40.3  6714.0 1478.3  184.5 22171.9
TERMINAL RECEIPTS
This Week  597.4  185.2    0.0   17.9   0.0   185.1   26.9   77.4  1393.7
Week Ago   497.5  123.1    0.2   49.5   0.0   241.3   10.5   46.2  1249.7
To Date   8541.4 1997.2  121.0 1029.0  16.8  2219.8  841.1  244.7 18471.1
Year Ago  8188.1 1792.0  168.2  845.3  14.5  3968.4 1138.8  418.8 20118.2
EXPORTS
This Week  583.1  145.9   27.5   39.2   1.8    99.5   25.9   42.1  1459.5
Week Ago   416.9  167.4   13.8   59.7   1.0   284.6    3.9   38.9  1197.5
To Date   7173.5 1304.7  369.3 1160.5  28.1  1928.4  953.6  132.7 15542.0
Year Ago  6349.9 1345.2  450.9  800.0  13.0  3694.8 1132.0  452.0 16588.4
DOMESTIC DISAPPEARANCE
This Week  100.9   86.5   12.2   23.5   1.4   216.0    3.4   19.7   514.6
Week Ago    89.9   19.5   24.7   25.0   1.5   237.3    2.4   18.4   509.9
To Date   1467.0  317.7  241.7  425.3  19.3  3690.1   59.8  324.8  7303.8
Year Ago  1732.7  238.7  295.0  454.7  14.4  3731.0   77.6  362.2  7652.7
     *Totals include data from other crops not shown including rye, soybeans,
sunflower seed, canaryseed, mustard seed, beans, lentils and chickpeas.
     Source: MarketsFarm (news@marketsfarm.com, 204-414-9084)
DJ CBOT Delivery Intentions: Totals – Nov 28
Source: CME Group
                            Contract                        Quantity   Next Trade
Commodity                   Month      Delivery Day   Assigned Today   Date Available
SOYBEAN MEAL                December   Dec 01, 2025              199   Nov 24, 2025
SOYBEAN OIL                 December   Dec 01, 2025              447   Nov 20, 2025
CORN                        December   Dec 01, 2025               80   Jun 30, 2025
HARD RED SPRING WHEAT FUT   December   Dec 01, 2025               34   Nov 24, 2025
KC HRW WHEAT                December   Dec 01, 2025                2   Jun 11, 2025
OATS                        December   Dec 01, 2025              120   Nov 13, 2025
DJ CBOT Delivery Intentions: Totals – Dec 1
Source: CME Group
               Contract                        Quantity   Next Trade
Commodity      Month      Delivery Day   Assigned Today   Date Available
SOYBEAN MEAL   December   Dec 02, 2025              147   Nov 24, 2025
SOYBEAN OIL    December   Dec 02, 2025              122   Nov 21, 2025
CORN           December   Dec 02, 2025               64   Sep 12, 2025
KC HRW WHEAT   December   Dec 02, 2025                2   Aug 29, 2025
OATS           December   Dec 02, 2025                8   Nov 14, 2025
WHEAT
General Comments:   Wheat closed a little higher in Chicago and KC last week.  The weekly charts show that trends are in a short term range.  World prices turned weaker last week due to reports of strong production in exporter countries.  Production has been good in northern hemisphere countries.  Southern hemisphere crops appear to be very good.  Demand has been weaker for various origins including Russia.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up.  Support is at 524, 517, and 507 March, with resistance at 555, 560, and 573 March.  Trends in Kansas City are mixed.  Support is at 506, 501, and 494 March, with resistance at 534, 540, and 550 March. Trends in Minneapolis are not available.
RICE:
General Comments   Rice was lower last week as the selling in this market continues unabated.  Ideas are that the market is too cheap and that farmers have sold what needs to be sold for now.  The recent selling has been to be relentless and appears tied to the weaker prices in Asia and especially India.  Trends are down in the market.  The harvest is over in the delta and Mid South.  California is about done with its harvest.  Yields and quality are mixed, but quality appears better than a year ago.  The cash market has been slow with low bids from buyers in domestic markets and average or less export demand.  The charts show that futures are in a short term trading range.
Overnight News:
Chart Analysis: Trends are mixed to down.  Support is at 1000, 988, and 976 January and resistance is at 1056, 1068, and 1074 January.
CORN AND OATS
General Comments: Corn was higher last week.  Ideas are that demand is less now due to increased competition in the world market.  Trends are mixed in the market.  The harvest is almost over in all areas of the Midwest.  There are ideas that US production might not be super strong due to disease such as rust to offset the demand losses.  Temperatures should average below normal this week and there are forecasts for some rain early this week.  Oats were lower, but trends are turning up anyway.
Overnight News:
Chart Analysis:  Trends in Corn are mixed to up.  Support is at 430, 426, and 423 March, and resistance is at 440, 442, and 445 March.  Trends in Oats are mixed to up.  Support is at 309, 302, and 297 March, and resistance is at 315, 323, and 325 March.
SOYBEANS
General Comments: Soybeans and Soybean Oil were higher last week, but Soybean Meal closed a little lower.  The White House said it was talking to Chin about Soybeans again and that a deal is within reach again.  A deal had been announced several weeks ago for massive Soybeans purchases by China but apparently as of now it was not real.  The US will have to compete with South America for sales in a diminishing Chinese market and US prices are currently too high to complete many new sales.  The Chinese hog herd is being reduced and this means less demand for Soybeans and Soybean Meal.  Temperatures will average below normal in the Midwest this week.
Overnight News:
Analysis:  Trends in Soybeans are mixed.  Support is at 1114, 1103, and 1071 January, and resistance is at 1148, 1169, and  1184 January.  Trends in Soybean Meal are mixed.  Support is at 313.00, 307.00, and 304.00 January, and resistance is at 325.00, 333.00, and 337.00 January.  Trends in Soybean Oil are mixed.  Support is at 4970, 4330, and 4870 January, with resistance at 5210, 5280, and 5320 January.
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were a little higher last week despite fears of increasing production and weakening demand.  Futures were lower today.  There are still Indonesian plans to increase the use of Palm Oil in biofuels blends.  There are still ideas of increasing production.  The market sentiment overall is turning bearish on ideas of increasing stocks to the market and on some concerns about demand   Canola was higher and moved back into the heart of the recent trading range on the daily charts.  Trends are still mixed on the daily charts but up on the weekly charts.
Overnight News:
Chart Analysis: Trends in Canola are mixed.  Support is at 635.00, 632.00, and 623.00 January, with resistance at 661.00, 671.00, and 680.00 January.  Trends in Palm Oil are down.  Support is at 4010, 3940, and 3880 February, with resistance at 4200, 4270, and 4300 February.
DJ Malaysian PM Cash Market Prices for Palm Oil – Dec 1
  The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, supplied by commodity broker Matthes & Porton Bhd.
  Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
             Offer      Change      Bid        Change   Traded
Dec          1025.00    -02.50      Unquoted   –        –
Jan/Feb/Mar  1035.00     00.00      Unquoted   –        –
Apr/May/Jun  1037.50    -02.50      Unquoted   –        –
Jul/Aug/Sep  1032.50     00.00      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Dec           1030.00    -02.50      Unquoted   –        –
Jan/Feb/Mar   1040.00     00.00      Unquoted   –        –
Apr/May/Jun   1042.50    -02.50      Unquoted   –        –
Jul/Aug/Sep   1037.50     00.00      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Dec           990.00     -07.50      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Dec           990.00     -05.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Dec            4,110.00   +10.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Dec            425.00     +05.00      Unquoted   –        –
($1=MYR4.1285)
DJ Malaysian PM Cash Market Prices for Palm Oil – March 28
  The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, supplied by commodity broker Matthes & Porton Bhd.
  Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
             Offer      Change      Bid        Change   Traded
Apr          1135.00    +15.00      Unquoted   –        –
Apr/May/Jun  1092.50    +20.00      Unquoted   –        –
Jul/Aug/Sep  1012.50    +17.50      Unquoted   –        –
Oct/Nov/Dec  1002.50    +15.00      Unquoted   –        –
Jan/Feb/Mar  1007.50    +12.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Apr           1140.00    +15.00      Unquoted   –        –
Apr/May/Jun   1097.50    +20.00      Unquoted   –        –
Jul/Aug/Sep   1017.50    +17.50      Unquoted   –        –
Oct/Nov/Dec   1007.50    +15.00      Unquoted   –        –
Jan/Feb/Mar   1012.50    +12.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Apr           1112.50    +20.00      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Apr           1070.00    +15.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Apr            4,830.00   +70.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Apr            494.00     +07.00      Unquoted   –        –
($1=MYR4.4363)
  (END) Dow Jones Newswires
  03-28-25 0623ET
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