Grains Report 03/16/2026

DJ CBOT Delivery Intentions: Totals – Mar 16
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL March Mar 17, 2026 2 Mar 10, 2026
SOYBEAN OIL March Mar 17, 2026 29 Mar 13, 2026
ROUGH RICE March Mar 17, 2026 12 Mar 13, 2026
CORN March Mar 17, 2026 111 Mar 13, 2026
SOYBEAN March Mar 17, 2026 5 Feb 27, 2026

WHEAT
General Comments: Wheat closed a little higher in Chicago and lower in KC last week in response to the war in Iran. The weekly export sales report showed stronger than expected demand. Middle eastern countries are big buyers of world Wheat and many have been bombed by Iran now. Conditions are too dry in much of the US Great Plains and too wet in the US Midwest and in western Europe for best production and quality potential. Recent storm systems in the Great Plains could bring relief to crops produced there. The weather is now featuring precipitation is forecast for parts of the Great Plains and Midwest along with variable temperatures. USDA made no changes in the domestic WASDE data and minor changes in the world data.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up. Support is at 583, 564, and 558 May, with resistance at 642, 648, and 665 May. Trends in Kansas City are mixed to up. Support is at 595, 580, and 567 May, with resistance at 657, 660, and 666 May. Trends in Minneapolis are not available.

COT — Supplemental Report – Option and Futures Combined Positions as of March 10, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-SRW – CHICAGO BOARD OF TRADE
CFTC Code #001602 Open Interest is 562,155
: Positions :
: 65,196 130,800 202,269 101,055 132,915 157,860 59,834 526,381 525,820: 35,774 36,335
: Changes from: March 3, 2026 (Change in open interest: 47,039) :
: 1,505 7,805 22,696 18,386 15,308 4,350 2,329 46,938 48,137: 102 -1,097
: Percent of Open Interest Represented by Each Category of Trader :
: 11.6 23.3 36.0 18.0 23.6 28.1 10.6 93.6 93.5: 6.4 6.5
: Total Traders: 386 Number of Traders in Each Category :
: 111 93 126 91 106 46 23 315 291:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of March 10, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-HRW – CHICAGO BOARD OF TRADE
CFTC Code #001612 Open Interest is 323,195
: Positions :
: 53,223 70,098 93,351 59,838 118,536 99,265 18,640 305,677 300,625: 17,518 22,570
: Changes from: March 3, 2026 (Change in open interest: 5,475) :
: -2,961 -9,348 7,375 2,216 5,641 -1,642 682 4,988 4,351: 487 1,124
: Percent of Open Interest Represented by Each Category of Trader :
: 16.5 21.7 28.9 18.5 36.7 30.7 5.8 94.6 93.0: 5.4 7.0
: Total Traders: 260 Number of Traders in Each Category :
: 53 64 70 72 89 37 16 201 203:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 10, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
WHEAT-HRSpring – MIAX FUTURES EXCHANGE (CONTRACTS OF 5,000 BUSHELS) :
CFTC Code #001626 Open Interest is 68,747 :
: Positions :
: 28,162 46,468 1,199 1,147 565 22,890 6,900 2,219 3,368 1,261 2,510 :
: Changes from: March 3, 2026 :
: -1,434 9,656 -420 -471 -90 3,562 -8,465 454 -952 -108 -609 :
: Percent of Open Interest Represented by Each Category of Trader :
: 41.0 67.6 1.7 1.7 0.8 33.3 10.0 3.2 4.9 1.8 3.7 :
: Number of Traders in Each Category Total Traders: 112 :
: 44 41 . . . 17 14 8 11 5 7 :
—————————————————————————————————————-

RICE:
General Comments Rice closed a little higher last week. Trends are still up after a big war related rally as world supplies and trade in Rice could be disrupted, especially in the region near Iran. Traders anticipate less production this year in the US and around the world due to low prices. Asian Rice prices are higher due to war concerns. Trends are mixed as demand remains moderate for US Rice. USDA made no significant changes in the domestic and world WASDE data.
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1105, 1093, and 1063 May and resistance is at 1152, 1164, and 1176 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 10, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
ROUGH RICE – CHICAGO BOARD OF TRADE (CONTRACTS OF 200,000 POUNDS) :
CFTC Code #039601 Open Interest is 12,260 :
: Positions :
: 6,065 2,719 60 117 0 1,113 4,693 117 1,320 1,827 1,431 :
: Changes from: March 3, 2026 :
: -457 246 0 -27 0 -229 -948 -5 -107 -31 149 :
: Percent of Open Interest Represented by Each Category of Trader :
: 49.5 22.2 0.5 1.0 0.0 9.1 38.3 1.0 10.8 14.9 11.7 :
: Number of Traders in Each Category Total Traders: 80 :
: 17 12 . . 0 8 18 4 16 10 8 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn was higher last week on more news that Iran had laid mines in the straits of Hormuz. Shipping has been halted there and some ships have been blown up. Wire reports note that US Corn cash markets are struggling to follow futures markets higher due to excessive supplies and the weekly export sales report showed demand was in line with expectations. 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 variable for the next week. Conditions are called good in Argentina and big production is expected there. Oats were higher and trends are up on the daily and weekly charts. USDA made no significant changes in the WASDE reports.
Overnight News:
Chart Analysis: Trends in Corn are up. Support is at 444, 441, and 437 May, and resistance is at 477, 480, and 483 May. Trends in Oats are mixed. Support is at 314, 307, and 301 May, and resistance is at 380, 383, and 386 May

COT — Supplemental Report – Option and Futures Combined Positions as of March 10, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
CORN – CHICAGO BOARD OF TRADE
CFTC Code #002602 Open Interest is 2,219,481
: Positions :
: 260,898 194,997 646,585 639,456 1,039,142 489,861 104,954 2,036,799 1,985,678: 182,682 233,804
: Changes from: March 3, 2026 (Change in open interest: 201,194) :
: 74,442 -46,943 53,052 25,108 168,989 41,275 -3,202 193,877 171,896: 7,318 29,299
: Percent of Open Interest Represented by Each Category of Trader :
: 11.8 8.8 29.1 28.8 46.8 22.1 4.7 91.8 89.5: 8.2 10.5
: Total Traders: 841 Number of Traders in Each Category :
: 172 131 197 368 400 54 26 701 662:
——————————————————————————————————————-

SOYBEANS
General Comments: Soybeans and the products were higher last week on more news that Iran has laid mines in the straits of Hormuz. Shipping has been halted. Big South American crops are being harvested and ideas are that Chinese buying could be interrupted due to the Iran war. China has imposed new phyto controls on Brazil Soybeans to cu=t the flow of imports to the country. South American sources said that the Brazil crops are now more than 50% harvested. The tariff wars between the US and other countries add to cost of US Soybeans. Temperatures will be variable in the Midwest this week.
Overnight News:
Analysis: Trends in Soybeans are up. Support is at 1188 1171, and 1158 May, and resistance is at 1246, 1258, and 1270 May. Trends in Soybean Meal are up. Support is at 309.00, 307.00, and 304.00 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 6720, 6780, and 6840 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 10, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEANS – CHICAGO BOARD OF TRADE
CFTC Code #005602 Open Interest is 1,306,197
: Positions :
: 205,356 69,706 409,503 374,219 688,976 262,489 43,092 1,251,567 1,211,276: 54,630 94,921
: Changes from: March 3, 2026 (Change in open interest: 65,136) :
: 8,667 -3,519 30,222 21,623 35,325 5,510 1,483 66,022 63,512: -887 1,624
: Percent of Open Interest Represented by Each Category of Trader :
: 15.7 5.3 31.4 28.6 52.7 20.1 3.3 95.8 92.7: 4.2 7.3
: Total Traders: 680 Number of Traders in Each Category :
: 168 127 196 192 285 53 22 512 550:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of March 10, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN OIL – CHICAGO BOARD OF TRADE
CFTC Code #007601 Open Interest is 915,257
: Positions :
: 115,005 71,732 292,316 305,667 472,979 161,417 49,893 874,405 886,920: 40,852 28,337
: Changes from: March 3, 2026 (Change in open interest: 38,075) :
: 17,842 -19,628 12,366 16,719 45,415 -7,850 1,075 39,077 39,228: -1,002 -1,153
: Percent of Open Interest Represented by Each Category of Trader :
: 12.6 7.8 31.9 33.4 51.7 17.6 5.5 95.5 96.9: 4.5 3.1
: Total Traders: 364 Number of Traders in Each Category :
: 107 85 118 89 106 42 20 303 268:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of March 10, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN MEAL – CHICAGO BOARD OF TRADE
CFTC Code #026603 Open Interest is 595,072
: Positions :
: 116,595 52,224 124,025 180,134 372,487 124,731 19,374 545,485 568,109: 49,587 26,962
: Changes from: March 3, 2026 (Change in open interest: 10,653) :
: 6,560 -11,665 8,259 -1,672 20,581 -2,468 -3,736 10,679 13,439: -26 -2,786
: Percent of Open Interest Represented by Each Category of Trader :
: 19.6 8.8 20.8 30.3 62.6 21.0 3.3 91.7 95.5: 8.3 4.5
: Total Traders: 337 Number of Traders in Each Category :
: 87 56 96 118 120 38 16 290 247:
——————————————————————————————————————-

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher last week on strength in the other markets and closed higher today. Demand ideas are in a state of flux right now with some looking for weaker demand and others looking for improved demand caused by the war. Production is expected to drop in the short term. Canola was a little higher last week on hopes for new Chinese demand from the Carney-Xi meetings and the u war with Iran that could be over soon. The selling seen also 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 758.00, 764.00, and 770.00 May. Trends in Palm Oil are up. Support is at 4330, 3990, and 3870 May, with resistance at 4500, 4560, and 4620 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 10, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
USD Malaysian Crude Palm Oil C – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 25 METRIC TONS) :
CFTC Code #037021 Open Interest is 36,693 :
: Positions :
: 32,860 26,855 1,160 7,405 683 430 0 370 950 1,180 200 :
: Changes from: March 3, 2026 :
: 8,448 5,862 -180 1,466 -1,161 0 0 -60 0 940 -40 :
: Percent of Open Interest Represented by Each Category of Trader :
: 89.6 73.2 3.2 20.2 1.9 1.2 0.0 1.0 2.6 3.2 0.5 :
: Number of Traders in Each Category Total Traders: 26 :
: 9 9 4 4 4 . 0 . . . . :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 10, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
CANOLA – ICE FUTURES U.S. (20 Metric Tonnes) :
CFTC Code #135731 Open Interest is 370,216 :
: Positions :
: 156,170 237,603 12,881 10,304 7,031 122,049 26,897 33,477 12,729 28,058 23,907 :
: Changes from: March 3, 2026 :
: -9,138 28,472 -775 2,078 -621 27,190 -6,623 9,549 -817 -6,662 -1,343 :
: Percent of Open Interest Represented by Each Category of Trader :
: 42.2 64.2 3.5 2.8 1.9 33.0 7.3 9.0 3.4 7.6 6.5 :
: Number of Traders in Each Category Total Traders: 414 :
: 54 107 8 . 7 77 28 16 56 110 79 :
—————————————————————————————————————-

DJ Malaysian PM Cash Market Prices for Palm Oil – March 16
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
Apr 1215.00 — Unquoted – –
May/Jun 1217.50 — Unquoted – –
Jul/Aug/Sep 1200.00 +17.50 Unquoted – –
Oct/Nov/Dec 1180.00 +10.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 1220.00 — Unquoted – –
May/Jun 1222.50 — Unquoted – –
Jul/Aug/Sep 1205.00 +17.50 Unquoted – –
Oct/Nov/Dec 1185.00 +10.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 1180.00 — Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Apr 1155.00 — Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 4,620.00 — Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 486.00 — Unquoted – –
($1=MYR3.9305)

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