Grains Report 01/26/2026

WHEAT
General Comments: Wheat closed higher last week as the world economic meeting in Davos continued and as President Trump has waked back his comments on forcibly taking Greenland. Better export sales are now anticipated due the move lower seen Monday in reaction to the USDA reports. US Wheat areas need snow cover. Concerns on the condition of the Winter Wheat crops moving forward are growing as there is little snow cover and some very cold temperatures are occurring that could have created Winterkill over the weekend.
Overnight News:
Chart Analysis: Trends in Chicago are up. Support is at 500, 494, and 488 March, with resistance at 530, 536, and 545 March. Trends in Kansas City are up. Support is at 508, 503, and 499 March, with resistance at 545, 550, and 553 March. Trends in Minneapolis are not available.

RICE:
General Comments Rice was higher last week. The market might have finished a bottom formation on the daily and weekly charts. Weaker world prices are expected by the FAO in the coming year. Asian Rice prices are under pressure now due to a weaker Indian Rupee that forced costs for Indian Rice lower. Trends are turning up in the market but demand remains quiet for US Rice.
Overnight News:
Chart Analysis: Trends are mixed to up. Support is at 1030, 1002, and 996 March and resistance is at 1079, 1092, and 1110 March.

CORN AND OATS
General Comments: Corn was a little lower. Trends are mixed to up. USDA increased production in the annual reports released a week ago and the increased supplies have made it hard for prices to rally at all despite reports of strong demand.. Temperatures in the Midwest should average below normal. Oats were lower and trends are mixed.
Overnight News:
Chart Analysis: Trends in Corn are down. Support is at 417, 414, and 411 March, and resistance is at 433, 443, and 449 March. Trends in Oats are mixed to up. Support is at 284, 278, and 27\5 March, and resistance is at 317, 320, and 326 March.

SOYBEANS
General Comments: Soybeans and the products were higher last week amid very strong demand seen in the weekly export sales report. There are ideas of additional Chinese demand soon but it will be up to the government to buy ad US Soybeans are too high priced for commercial demand from China or almost anywhere else. It still seems that the market is now more concerned about big supplies coming soon from South America with the Soybeans harvest there now underway and was reported at 2% complete. Temperatures will average below normal in the Midwest.
Overnight News:
Analysis: Trends in Soybeans are mixed. Support is at 1033, 1030, and 1018 March, and resistance is at 1072, 1082, and 1086 March. Trends in Soybean Meal are mixed. Support is at 286.00, 283.00, and 280.00 March, and resistance is at 307.00, 311.00, and 316.00 March. Trends in Soybean Oil are up. Support is at 5040, 4960, and 4900 March, with resistance at 5440, 5500, and 5560 March.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher last week on idea of increasing seasonal demand and on ideas that Palm Oil is relatively cheap in the world market. Soybean Oil prices were higher as well. Palm Oil was higher today. Demand ideas are in a state of flux right now with some looking for weaker demand and other looking for improved demand. Production is expected to drop in the short term. Canola was lower last week as strong demand ideas ran into some profit taking. Canada and China reached agreement on a new trade deal which is expected to result in part in new sales of Canola to China There are ideas of a big Soybeans harvest coming from South America.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 616.00, 600.00, and 590.00 March, with resistance at 656.00, 662.00, and 668.00 March. Trends in Palm Oil are mixed. Support is at 4110, 4070, and 4040 April, with resistance at 4200, 4260, and 4350 April.

DJ Malaysia Jan. 1-25 Palm Oil Exports Rose 8.0% on Month to 1,099,033 Tons, AmSpec Says
By Ying Xian Wong
Malaysia’s palm oil exports during the Jan. 1-25 period are estimated up 8.0% on month at 1,099,033 metric tons, cargo surveyor AmSpec Agri Malaysia said Monday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
Jan. 1-25 Dec. 1-25
RBD Palm Olein 245,298 179,168
RBD Palm Oil 128,714 91,372
RBD Palm Stearin 78,453 93,077
Crude Palm Oil 371,772 276,990
Total* 1,099,033 1,017,897
*Palm oil product volumes don’t add up to total as some products aren’t included.

DJ Malaysian PM Cash Market Prices for Palm Oil – Jan 26
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
Feb 1087.50 +25.00 Unquoted – –
Mar 1090.00 +17.50 Unquoted – –
Apr/May/Jun 1092.50 +17.50 Unquoted – –
Jul/Aug/Sep 1087.50 +12.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Feb 1092.50 +25.00 Unquoted – –
Mar 1095.00 +17.50 Unquoted – –
Apr/May/Jun 1097.50 +17.50 Unquoted – –
Jul/Aug/Sep 1092.50 +12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Feb 1050.00 +20.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Feb 1042.50 +17.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Feb 4,180.00 +40.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Feb 436.00 +03.00 Unquoted – –
($1=MYR3.97)

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