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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 12/02/2025

By On December 2, 2025 - 10:32 AM · In Market Commentaries, Morning Grains & Softs Report
DJ USDA Grain Inspections for Export in Metric Tons – Dec 1
WA_GR101
Washington, DC    Mon   Dec 1, 2025   USDA Market News
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND WEIGHED
THROUGH THE AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT.  NO ADDITIONAL ANALYSIS,
COMPILATIONS OR DATA IS AVAILABLE
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
                  REPORTED IN WEEK ENDING NOV 27, 2025
                            — METRIC TONS —
————————————————————————-
                                                   CURRENT     PREVIOUS
             ———– WEEK ENDING ———-  MARKET YEAR  MARKET YEAR
  GRAIN      11/27/2025  11/20/2025  11/28/2024    TO DATE     TO DATE
BARLEY            131         209         821        5,629        5,912
CORN        1,421,258   1,695,682     948,812   18,968,259   11,112,946
FLAXSEED            0          24          24          312          240
MIXED               0           0           0            0           49
OATS                0         299           0        4,190          148
RYE                 0           0           0            0            0
SORGHUM        49,124      74,300     196,388      469,190    1,088,213
SOYBEANS      920,194     808,740   2,110,449   11,867,705   21,817,878
SUNFLOWER           0           0           0            0            0
WHEAT         384,881     480,429     298,623   13,228,425   11,027,844
Total       2,775,588   3,059,683   3,555,117   44,543,710   45,053,230
DJ CBOT Delivery Intentions: Totals – Dec 2
Source: CME Group
               Contract                        Quantity   Next Trade
Commodity      Month      Delivery Day   Assigned Today   Date Available
SOYBEAN OIL    December   Dec 03, 2025              123   Nov 25, 2025
CORN           December   Dec 03, 2025               76   Sep 24, 2025
KC HRW WHEAT   December   Dec 03, 2025                7   Sep 08, 2025
OATS           December   Dec 03, 2025                3   Nov 14, 2025
DJ Dryness Seen Cutting Into Brazilian Crop Size — Market Talk
     0903 ET – Brazil is still expected to produce huge corn and soybean crops, but some analysts are revising their expectations a bit lower. In a note, Michael Cordonnier of Soybean & Corn Advisor Inc. says that he’s lowered his outlook for Brazilian corn by 2 million metric tons to 138 million, and by 1 million tons to 176 million for soybeans. Both crops are experiencing planting delays, says Cordonnier, due to lacking rainfall. “The irregularity of rainfall and the intense heat continue to worry in various parts of the country,” he says, also noting that late planting in Brazil increases the risk of lower yields. (kirk.maltais@wsj.com)
WHEAT
General Comments:   Wheat closed a little lower yesterday on a lack of demand news and weakness seen in most commodities markets.  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.  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 a little higher yesterday in consolidation trading.  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.  Support is at 1000, 988, and 976 January and resistance is at 1056, 1068, and 1074 January.
CORN AND OATS
General Comments: Corn was lower yesterday despite the strong weekly export inspections report as traders expect weaker demand news from now on.  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 450, 452, and 455 March.  Trends in Oats are mixed to up.  Support is at 309, 302, and 297 March, and resistance is at 320, 323, and 325 March.
SOYBEANS
General Comments: Soybeans and Soybean Meal were lower yesterday, but Soybean Oil closed higher as no new sales announcements were made by USDA to China or anywhere else.  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 5100, 4970, and 4930 January, with resistance at 5280, 5320, and 5420 January.
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were higher last week on fears of decreasing production nd on price action in Chicago.  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 lower and remains in 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 2
  The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, 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          1037.50    +12.50      Unquoted   –        –
Jan/Feb/Mar  1045.00    +10.00      Unquoted   –        –
Apr/May/Jun  1052.50    +15.00      Unquoted   –        –
Jul/Aug/Sep  1045.00    +12.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Dec           1042.50    +12.50      Unquoted   –        –
Jan/Feb/Mar   1050.00    +10.00      Unquoted   –        –
Apr/May/Jun   1057.50    +15.00      Unquoted   –        –
Jul/Aug/Sep   1050.00    +12.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Dec          1015.00     +25.00      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Dec          1015.00     +25.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Dec           4,130.00   +20.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Dec            429.00     +04.00      Unquoted   –        –
($1=MYR4.129)
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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