Grains Report 07/29/2026

WHEAT:
General Comments: Wheat was mixed with Chicago mostly higher and KC lower. The recent rally was tied to increased tensions in the Black Sea with Russia unable to ship anything through the Azov Sea and to the USDA reports and world weather. Reports from Friday indicate that Turkey was moving to intervene and get Wheat from ports in both countries moving again. The export sales report showed demand was at the lower end of expectations. The harvest has been interrupted by too much rain in Texas and harvest yield reports remain low The crop harvest us now about three quarters complete. Spring Wheat has been heading and is rated 53% good to excellent. The harvest has started. 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 moderate temperatures after a got week last week. The Great Plains should stay hot and dry except for Texas which could see more rains.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 660, 647, and 629 September, with resistance at 712, 724, and 736 September. Trends in Kansas City are mixed. Support is at 691, 679, and 659 September, with resistance at 770, 782, and 794 September. Trends in Minneapolis are not available

RICE:
General Comments Rice closed higher yesterday after trading lower most of the day. 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 has improved slightly from last week Harvest has started in Texas.. 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, 1393, and 1292 September and resistance is at 1364, 1413, and 1421 September.

DJ USDA World Market Rice Prices – Jul 29
USDA today announced the prevailing world market prices
of milled and rough rice, adjusted for U.S. milling yields
and location, and the resulting marketing loan gain (MLG)
and loan deficiency payment (LDP) rates. Source: USDA
—–World Price—– MLG/LDP Rate
Milled Value Rough Rough
($/cwt) ($/cwt) ($/cwt)
Long Grain 14.21 8.86 0.00
Medium/Short Grain 13.89 9.16 0.00
Brokens 10.06 —- —-
This week’s prevailing world market prices and MLG/LDP
rates are based on the following U.S. milling yields and
the corresponding loan rates:
U.S. Milling Yields Loan Rate
Whole/Broken ($/cwt)
(lbs/cwt)
Long Grain 49.06/18.81 6.88
Medium Grain/Short Grain 57.70/11.40 6.82

CORN AND OATS
General Comments: Corn was higher yesterday on the weaker crop condition ratings reported by USDA. There is still too much rain in northern Midwest growing areas and hot and dry weather in the western Midwest and in Europe The export sales report showed that demand was at the lower end of expectations. It should be warm with showers in the northern Midwest this week but other areas should stay mostly dry. The crop conditions are lower than last week and below aa year ago. Dough is starting and progress is ahead of normal. Temperatures in the Midwest should be cooler this week. Oats were lower last week on worries about new tariffs on Canada weakening prices but trends are up on the weekly charts and are mixed on the daily charts.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 436, 427, and 421 September, and resistance is at 472, 478, and 484 September. Trends in Oats are down. Support is at 318, 307, and 300 September, and resistance is at 333, 349, and 347 September.

SOYBEANS
General Comments: Soybeans and the products were higher yesterday on reports that the US and Iran have paused bombing. It is still mostly hot and dry in the Midwest. Rapid blooming and setting pods progress was shown by USDA this week and reports of good conditions continue. Condition is less than last week and below a year ago. Warmer temperatures and wet weather in northern areas are expected for the next week in the Midwest.
Overnight News:
Analysis: Trends in Soybeans are mixed. Support is at 1206, 1185, and 1170 August, and resistance is at 1250, 1256, and 1268 August. Trends in Soybean Meal are up. Support is at 315.00, 309.00, and 305.00 August, and resistance is at 346.00, 344.00,and 356.00 August. Trends in Soybean Oil are mixed. Support is at 7170, 6940, and 6940 August, with resistance at 7410, 7680, and 7810 August.

PALM OIL AND CANOLA
General Comments: Palm Oil was higher today on strength in Crude Oil. Canola was lower yesterday.
Overnight News
Chart Analysis: Trends in Canola are mixed to up. Support is at 787.00, 780.00, and 7787.00 November, with resistance at 822.00, 831.00, and 848.00 November. Trends in Palm Oil are mixed. Support is at 4530, 4490, and 4430 October, with resistance at 4590, 4740, and 4780 October.

DJ Malaysian PM Cash Market Prices for Palm Oil – July 29
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, 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
Aug 1152.50 +05.00 Unquoted – –
Sep 1162.50 +05.00 Unquoted – –
Oct/Nov/Dec 1182.50 +07.50 Unquoted – –
Jan/Feb/Mar 1200.00 +02.50 Unquoted – –
Apr/May/June 1202.50 +05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1157.50 +05.00 Unquoted – –
Sep 1167.50 +05.00 Unquoted – –
Oct/Nov/Dec 1187.50 +07.50 Unquoted – –
Jan/Feb/Mar 1205.00 +02.50 Unquoted – –
Apr/May/Jun 1207.50 +05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1117.50 +07.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 1060.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 4,560.00 +30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 475.00 -06.00 Unquoted – –
($1=MYR4.0875)

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