Grains Report 05/07/2026

DJ U.S. Export Sales: Weekly Sales Totals-May 7
For the week ended Apr 30, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 78.8 187.5 24761.2 21409.5 2866.1 1678.0
hrw 33.4 20.2 8757.0 5496.5 943.6 292.4
srw 1.6 47.9 3348.6 3141.0 333.1 303.2
hrs 29.1 30.0 6505.1 6686.2 869.4 476.2
white -0.6 89.5 5504.5 5734.3 649.9 535.7
durum 15.3 0.0 646.0 351.5 70.0 70.5
corn 1361.7 122.8 77063.0 60411.1 20922.4 2053.0
soybeans 141.9 5.5 38917.7 47597.5 5673.8 256.1
soymeal 312.1 23.7 14666.0 12463.1 4026.3 242.2
soyoil 1.0 0.0 368.6 990.6 31.9 0.3
upland cotton 123.3 48.4 10814.8 10967.5 3098.3 1386.5
pima cotton 11.5 1.3 439.5 406.9 144.6 17.7
sorghum 0.0 0.0 4667.5 1410.1 893.5 0.0
barley 0.5 0.0 74.8 34.4 21.9 18.1
rice 4.6 0.1 2343.6 2737.7 551.5 6.9

DJ CBOT Delivery Intentions: Totals – May 7
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
ROUGH RICE May May 08, 2026 50 May 06, 2026
CORN May May 08, 2026 113 Apr 30, 2026
KC HRW WHEAT May May 08, 2026 35 Apr 30, 2026
SOYBEAN May May 08, 2026 1 Apr 29, 2026
WHEAT May May 28, 2026 5 Apr 30, 2026

WHEAT
General Comments: Wheat closed lower in both markets as much improved rains are forecast for later this week in Colorado and Kansas. Isolated showers were reported and are forecast in other parts the western Great Plains, but these are not enough to solve any problems. President Trump announced he was pausing Operation Freedom to give the US and Iran a chance to work out o cease fire deal. The two sides are apparently close to signing a memorandum of understanding about a deal. Conditions are too dry in much of the US Great Plains but remain wet in the US Midwest and in western Europe for best quality potential. The weather is now featuring precipitation is forecast for parts of the Midwest along with variable temperatures. The strait of Hormuz remains closed.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to down. Support is at 602, 591, and 578 July, with resistance at 635, 650, and 671 July. Trends in Kansas City are mixed. Support is at 645, 629, and 605 July, with resistance at 720, 726, and 732 July. Trends in Minneapolis are not available.

RICE:
General Comments Rice closed higher again yesterday after making new lows for the move as the long liquidation before First Notic Day stopped and deliveries started. The daily trends are mixed. Traders anticipate less production this year in the US and around the world due to low prices. USDA said that Rice planted area would be about 12% less in the coming year. Demand remains moderate for US Rice but export demand has been less lately.
Overnight News:
Chart Analysis: Trends are up. Support is at 1178, 1152, and 1117 July and resistance is at 1224, 1236, and 1248 July.

CORN AND OATS
General Comments: Corn was lower yesterday as the Iran war continues and that strait of Hormuz remains closed. President Trump announced he was pausing Operation Freedom to give the US and Iran a chance to work out o cease fire deal. The two sides are apparently close to signing a memorandum of understanding about a deal . Farmers were waiting to plant in the north, but most in the central and southern Midwest are planning now and strong demand continues. It looks drier this week, but not completely dry and Chicago has seen more rain. 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 be generally cool for the next week. Conditions are called good in Argentina and big production is expected there. Oats were higher and trends are mixed on the daily charts.
Overnight News:
Chart Analysis: Trends in Corn are down. Support is at 465, 461, and 452 July, and resistance is at 477, 487, and 493 July. Trends in Oats are mixed. Support is at 342, 337, and 330 July, and resistance is at 362, 368, and 374 July

SOYBEANS
General Comments: Soybeans and the products were lower yesterday. President Trump announced he was pausing Operation Freedom to give the US and Iran a chance to work out o cease fire deal. The two sides are apparently close to signing a memorandum of understanding about a deal. Temperatures have been cool in the Midwest. There is talk that more Soybeans could be planted if the weather does not improve for Corn planting soon. The big South American harvests are also weighing on prices. Big South American crops are being harvested, and ideas are that Chinese buying could be interrupted due to the Iran war and new import rules imposed by China. South American sources said that the Brazil crops are now more than 65% harvested. The tariff wars between the US and other countries add to cost of US Soybeans. Temperatures will be generally cool in the Midwest for the next week.
Overnight News:
Analysis: Trends in Soybeans are mixed. Support is at 1179, 1169, and 1157 July, and resistance is at 1221, 1230, and 1251 July. Trends in Soybean Meal are mixed. Support is at 316.00, 313.00, and 310.00 July, and resistance is at 331.00, 335.00,and 338.00 July. Trends in Soybean Oil are mixed to up. Support is at 7150, 6940, and 6690 July, with resistance at 7680, 7740, and 7800 July.

PALM OIL AND CANOLA
General Comments: Palm Oil followed the outside markets lower on hopes for a peace deal between the US and Iran. Canola was also lower on the Iran war news. again
Overnight News:
Chart Analysis: Trends in Canola are down. Support is at 733.00, 729.00, and 709.00 July, with resistance at 758.00, 769.00, and 772.00 July. Trends in Palm Oil are mixed. Support is at 4450, 4350, and 4280 July, with resistance at 4740, 4800, and 4870 July

DJ Malaysian PM Cash Market Prices for Palm Oil – May 7
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Thursday, 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
May 1195.00 00.00 Unquoted – –
Jun 1195.00 -02.50 Unquoted – –
Jul/Aug/Sep 1195.00 -05.00 Unquoted – –
Oct/Nov/Dec 1197.50 -05.00 Unquoted – –
Jan/Feb/Mar 1197.50 -07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
May 1200.00 00.00 Unquoted – –
Jun 1200.00 -02.50 Unquoted – –
Jul/Aug/Sep 1200.00 -05.00 Unquoted – –
Oct/Nov/Dec 1202.50 -05.00 Unquoted – –
Jan/Feb/Mar 1202.50 -07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
May 1162.50 +02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
May 1062.50 +02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 4,550.00 -40.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 470.00 +02.00 Unquoted – –
($1=MYR3.907)

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