Grains Report 02/27/2026

DJ CBOT Delivery Intentions: Totals – Feb 27
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL March Mar 02, 2026 102 Jan 23, 2026
SOYBEAN OIL March Mar 02, 2026 340 Jan 07, 2026
ROUGH RICE March Mar 02, 2026 445 Feb 26, 2026
CORN March Mar 02, 2026 9 Aug 28, 2025
SOYBEAN March Mar 02, 2026 138 Feb 13, 2026

WHEAT
General Comments: Wheat closed a little higher in Chicago but lower again in KC yesterday on reports that Argentine Wheat could soon be sold into the US Southeast. US Wheat is rallied into the region while Argentine Wheat comes on ships at cheaper rates for the transport. There are higher prices paid in overseas markets and on drier weather in the Great Plains. The weather is now averaging below normal temperatures and some light precipitation is forecast for parts of the Great Plains and Midwest. Temperatures were cold enough a couple of weeks ago to promote Winterkill. Many parts of the Great Plains are too dry for best yield potential, but USDA has recently rated the crops in good condition. Russia has been cold as well, but no losses have been reported although some damage is possible.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up. Support is at 564, 559, and 552 May, with resistance at 583, 589, and 595 May. Trends in Kansas City are mixed. Support is at 554, 546, and 538 May, with resistance at 573, 591, and 597 May. Trends in Minneapolis are not available.

RICE:
General Comments Rice was a little lower yesterday and trends are still down. The weekly export sales report was considered neutral. Traders anticipate less production this year in the US and around the world due to low prices. Asian Rice prices are under pressure now due to a weaker Indian Rupee that forced costs for Indian Rice lower. Trends are mixed as demand remains moderate for US Rice.
Overnight News:
Chart Analysis: Trends are mixed to down. Support is at 1016, 993, and 980 May and resistance is at 1037, 1055, and 1067 May.

CORN AND OATS
General Comments: Corn was mixed and trends are still mixed. There are still excessive supplies as seen in the recent USDA reports after prices were trending higher on strong demand. Temperatures in the Midwest should average near to above normal next week. Conditions are called good in Argentina and big production is expected there. The Safrinha Corn crop in Brazil is getting planted behind the Soybeans harvest and progress is a little behind normal. Oats were lower and trends are up on the daily and weekly charts.
Overnight News: Unknown destinations bought 257,000tonsodUS Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 441, 437, and 434 May, and resistance is at 446, 451, and 453 May. Trends in Oats are mixed. Support is at 317, 314, and 308 May, and resistance is at 325, 329, and 333 March.

SOYBEANS
General Comments: Soybeans and Soybean Meal were lower on moderate to weak weekly export sales and as the big South American crops were being harvested. Soybean Oil was higher. South American sources said that the Brazil crops are now more than 30% harvested. There are still ideas of additional Chinese demand soon that were fueled by statements by President Trump that he and Xi had talked and that the president had pushed him for more Soybeans purchases as both sides work to reduce trade tensions between the countries. It will be up to the Chinese government to buy as US Soybeans are too high priced for commercial demand from commercial users in China and almost anywhere else. The tariff wars between the two countries add another layer of cost onto the Soybeans. Temperatures will average near to above normal in the Midwest next week.
Overnight News:
Analysis: Trends in Soybeans are mixed. Support is at 1137, 1129, and 1120 May, and resistance is at 1173, 1178, and 1190 May. Trends in Soybean Meal are up. Support is at 316.00, 309.00, and 307.00 May, and resistance is at 328.00, 330.00, and 339.00 May. Trends in Soybean Oil are up. Support is at 5970, 5850, and 5800 May, with resistance at 6200, 6260, and 6320 May.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher today on speculative short covering before the weekend and despite ideas of weak demand for Palm Oil. Ideas of increasing seasonal demand and ideas that Palm Oil is relatively cheap in the world market are still around. Demand ideas are in a state of flux right now with some looking for weaker demand and others looking for improved demand. Production is expected to drop in the short term. Canola was a little higher yesterday. The selling seen came ideas of big crops in South America.
Overnight News:
Chart Analysis: Trends in Canola are mixed to up. Support is at 682.00, 673.00, and 667.00 May, with resistance at 686.00, 692.00, and 698.00 May. Trends in Palm Oil are up. Support is at 3990, 3930, and 3870 May, with resistance at 4100, 4160, and 4200 May.

DJ Malaysian PM Cash Market Prices for Palm Oil – Feb. 27
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
Mar 1080.00 +12.50 Unquoted – –
Apr/May/Jun 1080.00 +12.50 Unquoted – –
Jul/Aug/Sep 1082.50 +12.50 Unquoted – –
Oct/Nov/Dec 1082.50 +12.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 1085.00 +12.50 Unquoted – –
Apr/May/Jun 1085.00 +12.50 Unquoted – –
Jul/Aug/Sep 1087.50 +12.50 Unquoted – –
Oct/Nov/Dec 1087.50 +12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 1045.00 +07.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Mar 1030.00 +02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 4,050.00 +30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 429.00 +02.00 Unquoted – –
($1=MYR3.8895)

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