Grains Report 08/07/2026

DJ CBOT Delivery Intentions: Totals – Aug 7
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL August Aug 10, 2026 15 Jul 30, 2026
SOYBEAN OIL August Aug 10, 2026 3 Aug 03, 2026

World faces fresh food price surge, FAO warns – Reuters News
By Balazs Koranyi
05 Aug 2026 05:08:57 AM
Open in LSEG Workspace
• Food inflation likely to accelerate towards the end of the year
• Farm margins falling on surging costs
• El Nino may exacerbate inflation
FRANKFURT, Aug 5 (Reuters) – The world is on the verge of another bout of food inflation as wars in Iran and Ukraine along with El Nino create a perfect storm of higher costs and lower crop yields, the chief economist of the United Nations Food and Agriculture Organization said.
Food prices were a key driver of the 2022 global inflation surge but have been relatively benign so far this year, even tempering in some places the surge caused by high energy costs.
This calm is likely to be temporary, however, as higher crude oil prices, the loss of fertiliser from the Gulf region, the shortage of diesel in some parts of the world and extreme weather are feeding through to costs and will show up in consumer prices, even if with a delay.
COSTS SEEN ACCELERATING BY YEAR-END, NEXT YEAR
“I expect that commodity prices will start to increase more now … and food prices will start increasing by the end of the year, and next year for sure they will increase more,” Maximo Torero told Reuters in an interview.
“The transmission from the commodity to the final food price is around three to six months,” he said.
Although some commodity prices, such as wheat Wc1, maize EMAc1 and rice RI-INBKN5-P1 have increased in recent months, most still reflect relatively good harvests, rather than likely difficulties in the coming year.
“The Strait of Hormuz is a problem that affects all the inputs of agricultural commodities, agricultural systems,” Torero said. “Brent oil, because it’s used for pumping, packaging, processing, and transportation. And natural gas because it’s used for fertilisers.”
Meanwhile the damage inflicted by Ukraine on Russia’s oil and gas infrastructure curtails the export market for diesel and natural gas, both of them key inputs in food production.
Since commodity prices are global, this inflicts pain across the world, even if richer countries have more cash to buffer producers.
“You’re hearing this in Europe, in the U.S., Brazil and in Asia,” Torero said. “Tight margins are putting stress in planting decisions.”
Indeed, even in the U.S., which is self-sufficient for most key inputs, without federal assistance farmers growing nine principal crops may lose $32 billion in 2027, the American Farm Bureau Federation, an industry lobby group, said.
On a per-acre basis, every crop analysed is projected to remain below breakeven in 2027, it said.
Global wheat and corn planting was already cut in the first three months of the Iran war and some U.S. producers have shifted to soybeans, because they require lower fertilizer inputs.
Australia, one of the world’s top crop exporters, recently said that winter crop production is seen down by 21% in part because of a significant increase in both fuel and fertiliser prices and uncertainty over the availability of key inputs.
Meanwhile this year’s El Nino weather phenomenon is likely to be especially strong, significantly shifting rainfall patterns, likely impacting commodity prices and potentially pushing tens of millions into acute food insecurity.
The monsoon in India is already delayed and below-average rainfall is seen this month, a potential hit for rice production that could impact global commodity costs.
(Editing by Mark John and Tomasz Janowski)
(( Balazs.Koranyi@thomsonreuters.com ; +49 30 220 133 623; Reuters Messaging: balazs.koranyi.thomsonreuters.com@reuters.net ))

WHEAT:
General Comments: Wheat was lower yesterday after reports of more war between Ukraine and Russia. The price action was also tied to reports of reduced exports despite increased tensions in the Black Sea with Ukrainian bombing keeping Russia unable to ship anything through the Azov Sea and world weather. The harvest has been interrupted by too much rain in Texas and harvest yield reports remain low The crop harvest is over 86% complete. Spring Wheat has been heading and is rated 55% good to excellent. The harvest is underway. 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.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to down. Support is at 626, 620, and 614 September, with resistance at 658, 670, and 686 September. Trends in Kansas City are down. Support is at 691, 679, and 659 September, with resistance at 755, 770, and 79 September. Trends in Minneapolis are not available

RICE:
General Comments Rice closed higher yesterday in part after wire reports of stronger prices in Asia and despite harvest pressure. 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 little changed from the previous week Harvest is active in Texas. Demand remains moderate to poor for US Rice and was moderate to poor last week.
Overnight News:
Chart Analysis: Trends are mixed to up. Support is at 1340, 1393, and 1292 September and resistance is at 1444, 1456, and 1468 September

CORN AND OATS
General Comments: Corn was nrar unchanged on reports of rain in the northern half of the Midwest this week. Northwest areas will especially benefit, and central areas of the Midwest could be helped as the coverage area expands. There is still too much hot and dry weather in the western and southern Midwest but moderating conditions in Europe The export sales report showed that demand was at the higher end of expectations. Ukraine and Russia are back at war again and shipping is very limited in both countries. It should be warm with showers in the northern Midwest this week but other areas should stay mostly dry. The crop conditions are slightly 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 yesterday.
Overnight News: Mexico bought 286,097 tons of US Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 435, 427, and 421 September, and resistance is at 472, 478, and 484 September. Trends in Oats are down. Support is at 307, 300, and 294 September, and resistance is at 333, 349, and 347 September.

SOYBEANS
General Comments: Soybeans and the products were slightly lower yesterday despite reports of more Chinese demand and because of forecasts for rain in the northern half of the Midwest and into central areas this week. Northwest areas could especially benefit. It is still mostly hot and dry in the southern Midwest. Rapid blooming and setting pods progress was shown by USDA this week and reports of good conditions continue. Condition is unchanged from last week and below a year ago. Cooler temperatures and wet weather in northern areas are expected for the next week in the Midwest. Southern areas should stay hot and dry
Overnight News: China bought 238,000 tons of US Soybeans.
Analysis: Trends in Soybeans are down. Support is at 1140, 1122 and 1110 September, and resistance is at 1197, 1210, and 1225 September. Trends in Soybean Meal are down. Support is at 308.00, 305.00, and 302.00 September, and resistance is at 320.00, 323.00,and 328.00 September. Trends in Soybean Oil are mixed. Support is at 6660, 6540, and 6440 September, with resistance at 7110, 7260, and 7290 September.

PALM OIL AND CANOLA
General Comments: Palm Oil was lower today. Canola was higher again yesterday.
Overnight News
Chart Analysis: Trends in Canola are mixed. Support is at 750.00, 743.00, and 729.00 November, with resistance at 780.00, 800.00, and 815.00 November. Trends in Palm Oil are mixed. Support is at 4600, 4530, and 4400 October, with resistance at 4740, 4780, and 4820 October.

DJ Malaysian PM Cash Market Prices for Palm Oil – Aug 7
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
Aug 1142.50 00.00 Unquoted – –
Sep 1165.00 -02.50 Unquoted – –
Oct/Nov/Dec 1190.00 -02.50 Unquoted – –
Jan/Feb/Mar 1217.50 00.00 Unquoted – –
Apr/May/June 1225.00 +05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1147.50 00.00 Unquoted – –
Sep 1170.00 -02.50 Unquoted – –
Oct/Nov/Dec 1195.00 -02.50 Unquoted – –
Jan/Feb/Mar 1222.50 00.00 Unquoted – –
Apr/May/Jun 1230.00 +05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1110.00 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 1057.50 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 4,540.00 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 446.00 -06.00 Unquoted – –
($1=MYR4.089)

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