Grains Report 06/26/2026

WHEAT:
General Comments: Wheat closed higher in Chicago and lower in KC yesterday as the harvest continues and as harvest yield reports remain low. Forecasts and reports for improving weather in Wheat areas continue. The crop condition ratings are still among the lowest in over 30 years in HRW areas and have provided some support for prices. Crop conditions should start to show some improvement soon but were lower last week. The Winter Wheat harvest is more than 40% done. USDA showed mostly stable crop conditions this week. Spring Wheat progress is about normal, and conditions are rated as stable from the previous week. Conditions are good in the US Midwest, but Europe has been too hot. The weather is now featuring mostly dry conditions for parts of the Midwest along with warming temperatures.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up. Support is at 571, 566, and 560 July, with resistance at 601, 618, and 632 July. Trends in Kansas City are mixed to up. Support is at 608, 602, and 596 July, with resistance at 688, 722, and 750 July. Trends in Minneapolis are not available.

RICE:
General Comments Rice closed higher yesterday as the market continues to recover. USDA said that Rice planted area would be about 12% less in the coming year. Emergence is about average, and condition was slightly improved from last week. Demand remains moderate to poor for US Rice and was moderate last week.
Overnight News:
Chart Analysis: Trends are mixed to down. Support is at 1232, 1176, and 1164 July and resistance is at 1301, 1308, and 1320 July.

CORN AND OATS
General Comments: Corn was a little higher yesterday ss the long liquidation came to an end after filling a long open chart gap around 404 July and despite big rains in parts of the Midwest that are causing flooding in some fields. It should be drier this week. The crop conditions are strong but unchanged last week in the Midwest and news of lower petroleum prices because of the Iran war continues. Forecasts for good growing conditions continue in the Midwest. Silking is starting. It looks drier this week. Temperatures in the Midwest should be cool for the next week. Oats were lower and trends are still down on the weekly charts.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 407, 404, and 401 July, and resistance is at 449, 452, and 455 July. Trends in Oats are mixed. Support is at 277, 271, and 265 July, and resistance is at 367, 377, and 387 July.

SOYBEANS
General Comments: Soybeans and the products were lower yesterday on reports of improved conditions in the Midwest and no new China demand news. Rapid planting and emergence progress was shown by USDA this week and reports of good conditions continue. Condition is rated high by USDA in the latest reports. Futures were also lower on the lack of news on China. Cooler temperatures and wet weather are expected for the next week in the Midwest. There is talk that more Soybeans could be planted as Corn planting is more expensive. The big South American harvests are also weighing on prices. There is more talk of Chinese buying interest in US Soybeans this morning but there has not been any actual news.
Overnight News:
Analysis: Trends in Soybeans are down. Support is at 1102, 1090, and 1072 July, and resistance is at 1157, 1173, and 1205 July. Trends in Soybean Meal are down. Support is at 299.00, 296.00, and 293.00 July, and resistance is at 309.00, 316.00,and 326.00 July. Trends in Soybean Oil are mixed to down. Support is at 6880, 6680, and 6620 July, with resistance at 7270, 7470, and 7600 July.

PALM OIL AND CANOLA
General Comments: Palm Oil closed higher today on reports of strong exports. Canola was lower yesterday as conditions remain hot and dry in the Prairies but are starting to improve and on weakness in the outside markets.
Overnight News
Chart Analysis: Trends in Canola are mixed. Support is at 724.00, 715.00, and 709.00 July, with resistance at 746.00, 759.00, and 782.00 July. Trends in Palm Oil are mixed. Support is at 4610, 4510, and 4470 September, with resistance at 4710, 4740, and 4820 September.

DJ Malaysian PM Cash Market Prices for Palm Oil – June 26
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
July 1147.50 +07.50 Unquoted – –
Jul/Aug/Sep 1147.50 +07.50 Unquoted – –
Oct/Nov/Dec 1165.00 +12.50 Unquoted – –
Jan/Feb/Mar 1177.50 +12.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
July 1152.50 +07.50 Unquoted – –
Jul/Aug/Sep 1152.50 +07.50 Unquoted – –
Oct/Nov/Dec 1170.00 +12.50 Unquoted – –
Jan/Feb/Mar 1182.50 +12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
July 1112.50 +07.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
July 1060.00 +07.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
July 4,530.00 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
July 453.00 +01.00 Unquoted – –
($1=MYR4.0855)

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