Grains Report 07/17/2026

WHEAT:
General Comments: Wheat closed a little lower in both markets yesterday after Chicago tested recent highs. The rally is tied to increased tensions in the Black Sea with Russia unable to ship anything through th4 Azov Sea and to the USDA reports and world weather found new footing. The harvest continues and harvest yield reports remain low The crop condition ratings are still among the lowest in over 30 years in HRW areas and have provided some support for prices. Conditions are good in the US Midwest, but Europe has been too hot. The weather is now featuring scattered showers for parts of the Midwest along with hot temperatures.
Overnight News:
Chart Analysis: Trends in Chicago are up. Support is at 660, 647, and 629 September, with resistance at 700, 712, and 724 September. Trends in Kansas City are up. Support is at 691, 679, and 659 September, with resistance at 734, 758, and 770 September. Trends in Minneapolis are not available

RICE:
General Comments Rice closed lower yesterday. USDA said that Rice planted and harvested area is estimated to be sharply lower this year, leading to much lower production and tighter ending stocks estimates.. Emergence is about average, and condition was slightly improved from last week. Demand remains moderate to poor for US Rice and was moderate to poor last week.
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1340, 1292, and 1268 September and resistance is at 1416, 1428, and 1440 September.

CORN AND OATS
General Comments: Corn was lower yesterday ss the rally tied to too much rain in many Midwest growing areas and hot and dry weather in Europe faded once again It should be warm with showers in the north this week. The crop conditions are strong but below aa year ago. Forecasts for good growing conditions continue in the Midwest. Silking is starting. Temperatures in the Midwest should be cool starting next week. Oats were higher yesterday and trends are up on the weekly charts and are up on the daily charts.
Overnight News:
Chart Analysis: Trends in Corn are up. Support is at 406, 404, and 401 September, and resistance is at 454, 459, and 465 September. Trends in Oats are up. Support is at 328, 318, and 307 September, and resistance is at 364, 370, and 376 September.

SOYBEANS
General Comments: Soybeans and Soybean Oil were a little lower and Soybean Meal was higher along with the weakness in the grains and despite reports of improved conditions in the Midwest and no new China demand news. Rapid emergence progress was shown by USDA this week and reports of good conditions continue. Condition is rated high by USDA in the latest reports. Warmer temperatures and wet weather in northern areas are expected for the next week in the Midwest. The big South American harvests are also weighing on prices.
Overnight News: China bought 340,000 tons of US Soybeans and Mexico bought 256,634 tons of US Soybeans. Unknown destinations bought 110,000 tons of US Soybeans.
Analysis: Trends in Soybeans are mixed to up. Support is at 1163, 1154, and 1149 August, and resistance is at 1220, 1232, and 1244 August. Trends in Soybean Meal are up. Support is at 315.00, 309.00, and 305.00 August, and resistance is at 325.00, 329.00,and 333.00 August. Trends in Soybean Oil are mixed. Support is at 6540, 6440, and 6320 August, with resistance at 7460, 7580, and 7700 August.

PALM OIL AND CANOLA
General Comments: Palm Oil was lower today on reported profit taking. Canola was a little lower on Chicago price action.
Overnight News
Chart Analysis: Trends in Canola are mixed to up. Support is at 740.00, 728.00, and 710.00 November, with resistance at 791.00, 797.00, and 803.00 November. Trends in Palm Oil are mixed. Support is at 4530, 4490, and 4430 October, with resistance at 4560, 4740, and 4780 October.

DJ Malaysian PM Cash Market Prices for Palm Oil – July 17
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 1145.00 -02.50 Unquoted – –
Aug 1147.50 -02.50 Unquoted – –
Sep 1157.50 -02.50 Unquoted – –
Oct/Nov/Dec 1167.50 -05.00 Unquoted – –
Jan/Feb/Mar 1192.50 -02.50 Unquoted – –
Apr/May/June 1192.50 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
July 1150.00 -02.50 Unquoted – –
Aug 1152.50 -02.50 Unquoted – –
Sep 1162.50 -02.50 Unquoted – –
Oct/Nov/Dec 1172.50 -05.00 Unquoted – –
Jan/Feb/Mar 1197.50 -02.00 Unquoted – –
Apr/May/Jun 1197.50 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
July 1110.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
July 1062.50 -12.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
July 4,540.00 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
July 500.00 +07.00 Unquoted – –
($1=MYR4.0815)

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