Grains Report 09/03/2025

This Week Last Week Last Year Average
Cotton Setting Bolls 90 81 94 93
Cotton Bolls Opening 28 20 35 30
Corn Dough 90 83 89 91
Corn Dented 58 44 58 60
Corn Mature 15 7 18 14
Soybeans Setting Pods 94 89 93 94
Soybeans Dropping Leaves 11 4 12 10
Sorghum Headed 94 88 94 94
Sorghum Coloring 59 44 60 59
Sorghum Mature 28 23 29 26
Sorghum Harvested 17 16 19 19
Oats Harvested 88 80 87 89
Rice Harvested 33 25 42 27
Spring Wheat Harvested 72 53 67 71
Barley Harvested 72 56 71 75

Very Poor Poor Fair Good Excellent
Cotton This Week 2 11 36 43 8
Cotton Last Week 3 10 33 43 11
Cotton Last Year 11 13 32 38 6

Corn This Week 3 6 22 50 19
Corn Last Week 2 6 21 51 20
Corn Last Year 4 8 23 50 15

Soybeans This Week 3 7 25 51 14
Soybeans Last Week 2 6 23 54 15
Soybeans Last Year 3 7 25 52 13

Rice This Week 1 3 20 59 17
Rice Last Week 1 3 22 55 19
Rice Last Year 1 3 19 62 15

Sorghum This Week 3 8 25 48 16
Sorghum Last Week 3 8 26 47 16
Sorghum Last Year 6 13 31 42 8

Peanuts This Week 0 4 25 60 eleven
Peanuts Last Week 0 3 23 62 12
Peanuts Last Year 1 6 32 54 7

Pastures and Ranges This Week 11 20 31 29 9
Pastures and Ranges Last Week 11 21 31 28 9
Pastures and Ranges Last Year 16 26 30 23 5

DJ USDA Grain Inspections for Export in Metric Tons – Sep 2
WA_GR101
Washington, DC Mon Sep 2, 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 AUG 28, 2025
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 08/28/2025 08/21/2025 08/29/2024 TO DATE TO DATE
BARLEY 1,534 371 0 3,432 4,480
CORN 1,407,050 1,338,532 966,544 66,966,158 52,067,434
FLAXSEED 0 24 0 144 192
MIXED 998 0 0 1,120 596
OATS 0 0 0 2,095 148
RYE 0 0 0 0 0
SORGHUM 61,771 0 124,051 2,218,361 6,034,396
SOYBEANS 472,914 393,189 502,934 49,763,188 44,717,223
SUNFLOWER 0 0 0 0 7,325
WHEAT 802,780 1,020,254 604,425 6,639,531 5,796,865
Total 2,747,047 2,752,370 2,197,954 125,594,029 108,628,659
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA

DJ CBOT Delivery Intentions: Totals – Sep 3
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN OIL September Sep 04, 2025 385 Sep 02, 2025
ROUGH RICE September Sep 04, 2025 70 Aug 28, 2025
KC HRW WHEAT September Sep 04, 2025 18 Aug 29, 2025
OATS September Sep 04, 2025 3 Sep 02, 2025
SOYBEAN September Sep 04, 2025 586 Aug 28, 2025
WHEAT September Sep 04, 2025 34 Aug 27, 2025

WHEAT
General Comments: Wheat was lower as the market found some selling in response to word of lower prices being paid in Russia. The Spring Wheat harvest is active and the Winter Wheat harvest is done. Rains have been good in the northern Great Plains but Canada has been a little too dry for best yield potential and the northern Plains had hot and dry areas earlier in the year. Russia is still being watched for dry weather that has so far hurt yields and Ukraine is watched for the same reason and because of the war that could destroy some fields. Russian Black Sea prices have been firming as producers are not making sales and are looking for higher prices to offset yield losses. Reports from Russia indicate that later weather has improved and that somewhat higher yields than were forecast earlier are now possible. Southern hemisphere crops appear to be good.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 520, 517 and 511 December, with resistance at 535, 543, and 553 December. Trends in Kansas City are mixed to down. Support is at 507, 501, and 495 December, with resistance at 523, 529, and 535 December. Trends in Minneapolis are not available.

RICE:
General Comments Rice was lower as the harvest is active in Texas and southern Louisiana. Chart trends are still mostly down on the charts. The cash market has been slow with low bids from buyers in domestic markets and average or less export demand. New crop harvesting has started in Louisiana with reports of good but not great yields and quality. Texas reports average to below average field and milling yields. There is more concern about the crops in Arkansas where it has turned very hot. Milling quality of the old crop Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters. Rice is heading in most growing areas now and harvest has started near the Gulf Coast. Crop condition slipped slightly in the USDA reports released a week ago.
Overnight News:
Chart Analysis: Trends are mixed to down. Support is at 1193, 1172, and 1160 November and resistance is at 1229, 1240, and 1263 November.

CORN AND OATS
General Comments: Corn was higher yesterday on what appeared to be speculative short covering even though ideas are still heard that supplies will be more than ample for the demand. There are also ideas that US production might not be super strong due to disease such as rust. There was commercial selling on widespread record crop production predictions based on additional forecasts for improving weather for the Midwest. Temperatures should average below normal this week and it should be mostly dry. Most of the Midwest has seen adequate or greater precipitation and production ideas are high. Demand for Corn in world markets remains strong. Oats were lower.
Overnight News:
Chart Analysis: Trends in Corn are mixed to up. Support is at 410, 404, and 401 December, and resistance is at 423, 430, and 434 December. Trends in Oats are mixed. Support is at 325, 319, and 313 December, and resistance is at 338, 344, and 351 December.

SOYBEANS
General Comments: Soybeans and Soybean Meal were lower and continued to find some selling on ideas of strong yield potential from the current cool and dry weather seen in the Midwest. Soybean Oil was higher. The export sales report was strong and above trade estimates. China has not bought US Soybeans yet and traders are worried that demand for the new crop will be a lot less this year. Good growing conditions continue in the Midwest with cool and mostly dry weather in the forecast. Prices are still higher in Brazil, but China and other buyers are still buying there for political reasons. Export demand remains less for US Soybeans as China has been taking almost all the export from South America.
Overnight News: Philippines bought 185,000 tons of US Soybean Meal.
Analysis: Trends in Soybeans are mixed. Support is at 1031, 1027, and 1020 November, and resistance is at 1055, 1063, and 1074 November. Trends in Soybean Meal are down. Support is at 274.00, 270.00, and 266.00 October, and resistance is at 283.00, 288.00, and 290.00 October. Trends in Soybean Oil are mixed to down. Support is at 5110, 5090, and 5040 October, with resistance at 5340, 5390, and 5440 October.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were lower on ideas of weaker demand moving forward. Demand for export has been strong to start the month. Futures were also higher today as the increase in ending stocks was not as much as anticipated. There was talk that India will soon be buying a lot with festivals coming soon. Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around. Canola was higher with Soybean Oil despite exporters remain worried abouts access to the Chinese market. Trends are down on the daily charts and on the weekly charts. The weather has generally been dry for crop development in the Prairies with warm and dry weather still around.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 622.00, 602.00, and 596.00 November, with resistance at 652.00, 661.00, and 669.00 November. Trends in Palm Oil are mixed to up. Support is at 4410, 4340, and 4300 November, with resistance at 4530, 4590, and 4650 November.

DJ Malaysian PM Cash Market Prices for Palm Oil – Sep 3
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, 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
Sep 1085.00 -05.00 Unquoted – –
Oct/Nov/Dec 1090.00 -02.50 Unquoted – –
Jan/Feb/Mar 1100.00 -05.00 Unquoted – –
Apr/May/Jun 1080.00 -07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 1090.00 -05.00 Unquoted – –
Oct/Nov/Dec 1095.00 -02.50 Unquoted – –
Jan/Feb/Mar 1105.00 -05.00 Unquoted – –
Apr/May/Jun 1085.00 -07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 1062.50 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sep 1012.50 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 4,400.00 -20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 470.00 00.00 Unquoted – –
($1=MYR4.2255)

DJ China Dalian Grain Futures Closing Prices, Volume – Sep 03
Soybean No. 1
Turnover: 118,758 lots, or 4.71 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 4,107 4,107 4,065 4,074 4,122 4,087 -35 155 359
Nov-25 3,962 3,973 3,953 3,961 3,969 3,964 -5 87,497 205,697
Jan-26 3,960 3,971 3,952 3,961 3,966 3,961 -5 24,771 107,329
Mar-26 3,964 3,971 3,954 3,963 3,967 3,963 -4 3,499 30,094
May-26 4,010 4,016 4,000 4,010 4,013 4,009 -4 812 6,410
Jul-26 4,010 4,021 4,003 4,014 4,018 4,012 -6 2,024 5,434
Corn
Turnover: 570,987 lots, or 12.55 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 2,255 2,259 2,255 2,259 2,265 2,257 -8 428 17,424
Nov-25 2,200 2,207 2,191 2,193 2,206 2,197 -9 417,947 944,476
Jan-26 2,183 2,190 2,177 2,182 2,190 2,183 -7 110,490 405,103
Mar-26 2,199 2,204 2,192 2,195 2,207 2,197 -10 20,507 143,008
May-26 2,249 2,253 2,241 2,245 2,256 2,246 -10 11,566 73,156
Jul-26 2,259 2,264 2,252 2,259 2,267 2,257 -10 10,049 17,775
Soymeal
Turnover: 1,086,426 lots, or 32.78 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 3,003 3,025 3,003 3,020 3,013 3,015 2 774 8,738
Nov-25 3,015 3,044 3,009 3,034 3,028 3,027 -1 55,946 534,307
Dec-25 3,055 3,084 3,049 3,078 3,066 3,071 5 10,850 134,820
Jan-26 3,044 3,072 3,039 3,066 3,056 3,057 1 798,340 2,037,475
Mar-26 2,976 3,005 2,974 3,003 2,987 2,991 4 59,815 364,628
May-26 2,805 2,828 2,802 2,821 2,815 2,816 1 149,598 955,161
Jul-26 2,797 2,815 2,791 2,808 2,802 2,804 2 9,176 123,103
Aug-26 2,925 2,941 2,917 2,934 2,928 2,931 3 1,927 25,276
Palm Oil
Turnover: 791,301 lots, or 74.39 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 9,372 9,402 9,346 9,346 9,408 9,396 -12 656 1,233
Oct-25 9,410 9,476 9,336 9,352 9,420 9,394 -26 9,282 7,838
Nov-25 9,390 9,460 9,320 9,338 9,402 9,382 -20 4,468 9,745
Dec-25 9,406 9,470 9,338 9,356 9,424 9,398 -26 887 1,218
Jan-26 9,420 9,498 9,344 9,368 9,442 9,410 -32 739,051 444,058
Feb-26 9,378 9,378 9,316 9,330 9,378 9,360 -18 45 1,142
Mar-26 9,332 9,360 9,278 9,292 9,332 9,314 -18 81 479
Apr-26 9,226 9,242 9,212 9,228 9,284 9,234 -50 11 77
May-26 9,176 9,250 9,110 9,148 9,186 9,176 -10 36,737 73,026
Jun-26 9,068 9,126 9,034 9,058 9,092 9,068 -24 32 70
Jul-26 8,966 9,026 8,946 8,970 8,980 8,976 -4 31 151
Aug-26 8,902 8,948 8,882 8,882 8,920 8,912 -8 20 42
Soybean Oil
Turnover: 344,754 lots, or 28.76 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 8,454 8,460 8,454 8,454 8,410 8,456 46 28 3,191
Nov-25 8,384 8,436 8,350 8,384 8,384 8,390 6 5,884 15,964
Dec-25 8,386 8,462 8,378 8,416 8,410 8,416 6 746 5,870
Jan-26 8,350 8,418 8,328 8,366 8,364 8,368 4 304,466 622,425
Mar-26 8,278 8,356 8,278 8,306 8,314 8,328 14 33 1,681
May-26 8,092 8,124 8,046 8,070 8,076 8,082 6 33,496 201,304
Jul-26 8,026 8,076 8,016 8,032 8,044 8,048 4 99 377
Aug-26 8,050 8,068 8,050 8,068 8,042 8,058 16 2 32
Notes:
1) Unit is Chinese yuan a metric ton;
2) Ch. is day’s settlement minus previous settlement;
3) Volume and open interest are in lots;
4) One lot is equivalent to 10 metric tons.

Questions? Ask Jack Scoville today at 312-264-4322