Grains Report 03/04/2026

DJ CBOT Delivery Intentions: Totals – Mar 4
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
ROUGH RICE March Mar 05, 2026 55 Mar 03, 2026
CORN March Mar 05, 2026 1 Feb 05, 2026
KC HRW WHEAT March Mar 05, 2026 91 Feb 24, 2026
SOYBEAN March Mar 05, 2026 244 Feb 25, 2026

WHEAT
General Comments: Wheat closed lower in Chicago and higher in KC yesterday on ideas that demand could be disrupted due ti the Iran war. Middle eastern countries are big buyers of world Wheat. Conditions are too dry in much of the US and too wet in western Europe for best production and quality potential. There is talk that Argentine Wheat is being sold into the southeastern US. There are higher prices paid in overseas markets and on drier weather in the Great Plains. The weather is now averaging above 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 up. Support is at 575, 570, and 564 May, with resistance at 604, 608, and 614 May. Trends in Kansas City are mixed to up. Support is at 567, 553, and 547 May, with resistance at 597, 603, and 609 May. Trends in Minneapolis are not available.

RICE:
General Comments Rice closed a little lower yesterday. Trends are mixed. 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. Support is at 1036, 1016, and 993 May and resistance is at 1107, 1129, and 1152 May.

DJ USDA World Market Rice Prices – Mar 4
USDA today announced the prevailing world market prices
of milled and rough rice, adjusted for U.S. milling yields
and location, and the resulting marketing loan gain (MLG)
and loan deficiency payment LDP) rates. Source: USDA
—–World Price—– MLG/LDP Rate
Milled Value Rough Rough
($/cwt) ($/cwt) ($/cwt)
Long Grain 13.23 8.25 0.00
Medium/Short Grain 12.92 8.52 0.00
Brokens 9.36 —- —-
This week’s prevailing world market prices and MLG/LDP
rates are based on the following U.S. milling yields and
the corresponding loan rates:
U.S. Milling Yields Loan Rate
Whole/Broken ($/cwt)
(lbs/cwt)
Long Grain 49.06/18.81 6.88
Medium Grain/Short Grain 57.70/11.40 6.82

CORN AND OATS
General Comments: Corn was a little higher. The buying came on the back of of the Iran war that could rally petroleum prices and increase demand for ethanol. Some of the buying came in response to rallies in Wheat markets. There are still excessive supplies as seen in the recent USDA reports after prices were trending higher on strong demand. 4emperatures 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 higher and trends are still mixed to up on the daily and weekly charts.
Overnight News: Unknown destinations bought 125,000 tons of US Corn.
Chart Analysis: Trends in Corn are up. Support is at 444, 441, and 437 May, and resistance is at 456, 459, and 462 May. Trends in Oats are mixed. Support is at 314, 307, and 301 May, and resistance is at 329, 333, and 339 May.
Unknown destinations bought 196,000 tons of US Corn.

SOYBEANS
General Comments: Soybeans and Soybean Meal were higher on the war with Iran and despite the big South American crops were being harvested and ideas that Chinese buying could be interrupted due to the Iran war. Soybean Oil was lower. South American sources said that the Brazil crops are now more than 40% 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 this week.
Overnight News:
Analysis: Trends in Soybeans are mixed. Support is at 1137, 1129, and 1120 May, and resistance is at 1185, 1190, and 1204 May. Trends in Soybean Meal are up. Support is at 312.00, 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 6420, 6480, and 6540 May.

PALM OIL AND CANOLA
General Comments: Palm Oil futures lower today. 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 higher yesterday on hopes for new Chinese demand from the Carney-Xi meetings and the u Swae with Iran. 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 719.00, 726.00, and 732.00 May. Trends in Palm Oil are up. Support is at 3990, 3930, and 3870 May, with resistance at 4200, 4260, and 4320 May.

DJ Malaysian PM Cash Market Prices for Palm Oil – March 4
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
Mar 1087.50 -05.00 Unquoted – –
Apr/May/Jun 1087.50 -05.00 Unquoted – –
Jul/Aug/Sep 1092.50 -02.50 Unquoted – –
Oct/Nov/Dec 1092.50 00.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 1092.50 -05.00 Unquoted – –
Apr/May/Jun 1092.50 -05.00 Unquoted – –
Jul/Aug/Sep 1097.50 -02.50 Unquoted – –
Oct/Nov/Dec 1097.50 -00.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 1050.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Mar 1020.00 -15.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 4,100.00 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 441.00 -03.00 Unquoted – –
($1=MYR3.945)

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