Grains Report 05/22/2026

DJ Analysts’ Estimates for May Cattle-on-Feed Report
The following estimates, as compiled by the Wall Street Journal for the nation’s feedyards with a capacity of 1,000 or more head, are in percentages of the year-earlier figure. High and low projections were dropped in the calculation of averages. The U.S. Department of Agriculture report is scheduled for release at 3 p.m. ET (1900 GMT) Friday.
Average Range
of estimates of estimates
On-feed May 1 101.6 100.2 – 102.4
Placed in Apr 104.6 96.2 – 108.5
Marketed in Apr 90.7 89.9 – 91.7
Analyst On-Feed Placements Marketed
May 1 in Apr in Apr
Allegiant Commodity Group 101.8 105.9 90.5
Allendale Inc. 100.2 96.2 91.7
HedgersEdge 102.1 108.3 90.6
Livestock Mktg Info Ctr 101.3 102.4 90.5
Midwest Market Solutions 102.4 108.5 90.9
NFC Markets 101.3 101.7 89.9
Texas A&M Extension 101.6 104.0 90.4
US Commodities 101.6 105.0 91.0

WHEAT
General Comments: Wheat closed lower in both markets yesterday on forecasts for improving weather in Wheat areas and on weak export sales. The crop condition ratings are now the lowest in over 30 years. USDA showed deteriorating crop conditions this week. 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. Support is at 631, 628, and 606 July, with resistance at 680, 688, and 700 July. Trends in Kansas City are mixed to up. Support is at 678, 664, and 649 July, with resistance at 722, 750, and 762 July. Trends in Minneapolis are not available.

RICE:
General Comments Rice closed higher again yesterday and at the highest level since last July in reaction to ideas of sharply reduced planted and harvested area in the US. Production was cut back mostly due to reduced planted and harvested area. Yields were actually held high in the USDA estimates. 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. Planting and emergence are ahead of average and condition is rated high. Demand remains moderate for US Rice but export demand has been good this week.
Overnight News:
Chart Analysis: Trends are up. Support is at 1237, 1215, and 1178 July and resistance is at 1323, 1324, and 1333 July.

CORN AND OATS
General Comments: Corn was a littzle lower yesterday on strong planting and emergence progress in reports released by USDA and on forecasts for improved growing conditions in the Midwest. Planting has been very active in all of the Midwest and is now over half done. It looks drier this week, but not completely dry. Temperatures in the Midwest should be variable for the next week. Conditions are called good in Argentina and big production is expected there. The export sales report was positive. Oats were lower and trends are down on the daily and weekly charts.
Overnight News: Mexico bought 493,700 tsons of US Corn.
Chart Analysis: Trends in Corn are mixed to up. Support is at 452, 449, and 446 July, and resistance is at 487, 493, and 500 July. Trends in Oats are up. Support is at 351, 339, and 330 July, and resistance is at 370, 377, and 387 July

SOYBEANS
General Comments: Soybeans and the products were lower again yesterday on rapid planting progress shown by USDA and on forecasts for improving conditions. Futures were also lower on the lack of news on China and Iran. Temperatures have been cool in the Midwest but planting is ahead of normal and temperatures will turn to near normal over the weekend. Near normal temperatures are expected for the next week. 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 harvested. The tariff wars between the US and other countries add to cost of US Soybeans.
Overnight News: Unknown destinations bought 252000 tons of US Soybean Meal.
Analysis: Trends in Soybeans are mixed. Support is at 1183, 1172, and 1168 July, and resistance is at 1235, 1251, and 1262 July. Trends in Soybean Meal are mixed. Support is at 322.00, 310.00, and 304.00 July, and resistance is at 335.00, 338.00,and 342.00 July. Trends in Soybean Oil are mixed to up. Support is at 7420, 7320, and 7140 July, with resistance at 7630, 7680, and 7740 July.

PALM OIL AND CANOLA
General Comments: Palm Oil was near higher today on ideas of tighter supplies and Canola was higher yesterday.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 741.00, 729.00, and 709.00 July, with resistance at 769.00, 772.00, and 775.00 July. Trends in Palm Oil are mixed. Support is at 4350, 4320, and 4290 July, with resistance at 4540, 4720, and 4800 July

DJ Malaysian PM Cash Market Prices for Palm Oil – May 22
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
Jun 1170.00 +05.00 Unquoted – –
Jul/Aug/Sep 1172.50 +07.50 Unquoted – –
Oct/Nov/Dec 1187.50 +02.50 Unquoted – –
Jan/Feb/Mar 1197.50 +02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jun 1175.00 +05.00 Unquoted – –
Jul/Aug/Sep 1177.50 +07.50 Unquoted – –
Oct/Nov/Dec 1192.50 +02.50 Unquoted – –
Jan/Feb/Mar 1202.50 +02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jun 1132.50 +12.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jun 1047.50 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jun 4,500.00 +30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jun 459.00 -01.00 Unquoted – –
($1=MYR3.9635)

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