Grains Report 10/05/2026

DJ CBOT Delivery Intentions: Totals – Oct 5
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL October Oct 06, 2026 1 Sep 17, 2026
SOYBEAN OIL October Oct 06, 2026 75 Sep 10, 2026

WHEAT:
General Comments: Wheat was lower in both markets last week in part on bearish news from the USDA production report and in part from improved precipitation in the southern Great Plains. The small grains production report showed stronger than expected production but the quarterly stocks report came in line with trade expectations implying better than expected demand. Production was estimated at 1.533 billion bushels for All Wheat, above trade estimates of 1.527 billion. The quarterly stocks estimates were in line with trade estimates at 1.845 billion bushels. Both sides in the Russia-Ukraine war have reported an export pace more than 50% less than a year ago. The US Winter Wheat planting is 27% complete. Conditions are mixed in the US Midwest. 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 get big rains in southern areas.
Overnight News:
Chart Analysis: Trends in Chicago are down. Support is at 665, 645, and 618 December, with resistance at 730, 736, and 742 December. Trends in Kansas City are mixed to down. Support is at 729, 712, and 693 December, with resistance at 800, 807, and 819 December. Trends in Minneapolis are not available

COT — Supplemental Report – Option and Futures Combined Positions as of September 29, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-SRW – CHICAGO BOARD OF TRADE
CFTC Code #001602 Open Interest is 573,356
: Positions :
: 57,170 117,749 212,231 130,379 154,782 135,315 54,186 535,095 538,948: 38,261 34,408
: Changes from: September 22, 2026 (Change in open interest: -22,044) :
: -5,643 3,060 -11,255 227 -10,648 -3,221 -2,450 -19,893 -21,294: -2,152 -750
: Percent of Open Interest Represented by Each Category of Trader :
: 10.0 20.5 37.0 22.7 27.0 23.6 9.5 93.3 94.0: 6.7 6.0
: Total Traders: 449 Number of Traders in Each Category :
: 129 115 153 95 127 44 23 353 343:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 29, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-HRW – CHICAGO BOARD OF TRADE
CFTC Code #001612 Open Interest is 334,886
: Positions :
: 51,183 58,013 109,855 55,437 130,311 96,233 13,166 312,709 311,345: 22,177 23,541
: Changes from: September 22, 2026 (Change in open interest: -11,126) :
: -4,407 2,763 -7,033 2,429 -8,197 -1,711 -855 -10,722 -13,322: -404 2,195
: Percent of Open Interest Represented by Each Category of Trader :
: 15.3 17.3 32.8 16.6 38.9 28.7 3.9 93.4 93.0: 6.6 7.0
: Total Traders: 277 Number of Traders in Each Category :
: 69 63 86 71 95 35 14 219 217:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 29, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
WHEAT-HRSpring – MIAX FUTURES EXCHANGE (CONTRACTS OF 5,000 BUSHELS) :
CFTC Code #001626 Open Interest is 82,073 :
: Positions :
: 35,435 61,013 7,274 410 639 21,075 4,869 1,459 2,049 1,319 3,767 :
: Changes from: September 22, 2026 :
: 3,113 -3,537 637 410 91 -3,487 1,704 -170 274 452 116 :
: Percent of Open Interest Represented by Each Category of Trader :
: 43.2 74.3 8.9 0.5 0.8 25.7 5.9 1.8 2.5 1.6 4.6 :
: Number of Traders in Each Category Total Traders: 125 :
: 58 47 7 . 4 17 9 8 12 6 8 :
—————————————————————————————————————-

RICE:
General Comments Rice closed lower last week. Brazil prices are strong on ideas of short production and El Nino fears for production on the next crop. Harvest is active in most states and is 80% complete. Demand remains moderate to poor for US Rice and was moderate last week. El Nino is threatening production in Asia and Indian prices remain high and are going higher, Trends are mixed on the daily charts and are up on the weekly charts,
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1609, 1565, and 1550 November and resistance is at 1670, 1699, and 1712 November.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 29, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
ROUGH RICE – CHICAGO BOARD OF TRADE (CONTRACTS OF 200,000 POUNDS) :
CFTC Code #039601 Open Interest is 14,920 :
: Positions :
: 4,962 9,376 259 137 0 3,616 1,497 0 1,557 1,201 1,601 :
: Changes from: September 22, 2026 :
: 407 472 0 137 0 4 -275 -2 61 29 468 :
: Percent of Open Interest Represented by Each Category of Trader :
: 33.3 62.8 1.7 0.9 0.0 24.2 10.0 0.0 10.4 8.0 10.7 :
: Number of Traders in Each Category Total Traders: 79 :
: 19 19 . . 0 15 6 0 16 7 8 :
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CORN AND OATS
General Comments: Corn was lower last week on selling tied to the quarterly stocks report that showed higher than expected stocks at 2.095 billion bushels and on harvest progress. Trends turned down on the weekly charts. There is moderating weather in the western and southern Midwest with a lot of rain in the forecast mostly in the west this week. Harvest has been active in some areas of the Midwest with good but not great yields being reported. Ukraine and Russia are back at war again and shipping is very limited in both countries. It should be cooler with some wet weather in the Midwest this week. The crop conditions were steady last week and below aa year ago. Progress is about normal and the harvest is now 18% complete Temperatures in the Midwest should be cooler this week amid mostly dry weather. Big rains are likely in the south. Oats were lower. The harvest is complete.
Overnight News: Mexico bought 129,540 tons of US Corn.
Chart Analysis: Trends in Corn are down . Support is at 492, 481, and 471 December, and resistance is at 549, 554, and 560 December. Trends in Oats are mixed. Support is at 406, 403, and 392 December, and resistance is at 426, 429, and 435 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 29, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
CORN – CHICAGO BOARD OF TRADE
CFTC Code #002602 Open Interest is 2,577,179
: Positions :
: 334,460 105,681 818,690 711,990 1,267,964 521,223 138,559 2,386,363 2,330,894: 190,816 246,284
: Changes from: September 22, 2026 (Change in open interest: -98,798) :
: -37,934 980 -57,621 14,948 -33,551 -15,447 -6,991 -96,054 -97,184: -2,744 -1,614
: Percent of Open Interest Represented by Each Category of Trader :
: 13.0 4.1 31.8 27.6 49.2 20.2 5.4 92.6 90.4: 7.4 9.6
: Total Traders: 943 Number of Traders in Each Category :
: 237 132 233 392 444 51 24 773 752:
——————————————————————————————————————-

SOYBEANS
General Comments: Soybeans and Soybean Meal were lower last week as the quarterly stocks report was considered positive for prices but Soybean Oil was higher. Stocks were estimated at 315 billion bushels. The export sales were considered strong. China is expected to buy more cargoes of US Soybeans before the US-China summit meetings in the coming weeks but the tariffs will remain high. The harvest is now 17% complete. Rain is expected this week in the south and cool and dry weather is likely in the north. Condition is below a year ago and slightly improved from the previous week. Cooler temperatures are expected for the next week in the Midwest. There is some concern that El Nono could affect South American Soybeans production this year.
Overnight News: Unknown destinations bought 104000 tons of US Soybeans.
Analysis: Trends in Soybeans are mixed to down. Support is at 1256, 1244, and 1232 November, and resistance is at 1335, 1348, and 1360 September. Trends in Soybean Meal are down. Support is at 345.00, 343.00, and 337.00 December, and resistance is at 356.00, 368.00,and 374.00 December. Trends in Soybean Oil are mixed to up. Support is at 6660, 6600, and 6470 December, with resistance at 6920, 6960, and 7070 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 29, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEANS – CHICAGO BOARD OF TRADE
CFTC Code #005602 Open Interest is 1,343,560
: Positions :
: 242,332 72,189 367,013 454,518 764,962 221,952 54,592 1,285,815 1,258,756: 57,744 84,804
: Changes from: September 22, 2026 (Change in open interest: -85,338) :
: -20,036 2,997 -46,679 3,352 -29,105 -20,909 -11,266 -84,272 -84,053: -1,066 -1,285
: Percent of Open Interest Represented by Each Category of Trader :
: 18.0 5.4 27.3 33.8 56.9 16.5 4.1 95.7 93.7: 4.3 6.3
: Total Traders: 653 Number of Traders in Each Category :
: 148 126 195 220 288 52 21 523 542:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 29, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN OIL – CHICAGO BOARD OF TRADE
CFTC Code #007601 Open Interest is 621,521
: Positions :
: 91,489 40,799 160,777 197,740 372,241 137,048 26,720 587,054 600,537: 34,466 20,984
: Changes from: September 22, 2026 (Change in open interest: -73,175) :
: -3,286 293 -23,912 -39,089 -43,557 -4,496 -2,942 -70,783 -70,118: -2,393 -3,057
: Percent of Open Interest Represented by Each Category of Trader :
: 14.7 6.6 25.9 31.8 59.9 22.1 4.3 94.5 96.6: 5.5 3.4
: Total Traders: 333 Number of Traders in Each Category :
: 103 52 103 98 103 41 20 282 244:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 29, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN MEAL – CHICAGO BOARD OF TRADE
CFTC Code #026603 Open Interest is 720,749
: Positions :
: 189,135 32,231 174,885 146,938 472,733 158,415 11,881 669,373 691,729: 51,376 29,020
: Changes from: September 22, 2026 (Change in open interest: -48,747) :
: 14,523 1,435 -36,573 -20,496 -11,700 -3,127 -2,927 -45,673 -49,766: -3,074 1,019
: Percent of Open Interest Represented by Each Category of Trader :
: 26.2 4.5 24.3 20.4 65.6 22.0 1.6 92.9 96.0: 7.1 4.0
: Total Traders: 377 Number of Traders in Each Category :
: 132 51 108 112 127 40 10 325 264:
——————————————————————————————————————-

PALM OIL AND CANOLA
General Comments: Palm Oil was lower last week on weakness in export demand and in Chicago. The market closed higher today on oversold conditions. Daily chart trends are down. Canola was lower last week and trends are mixed on the daily charts.
Overnight News
Chart Analysis: Trends in Canola are mixed. Support is at 805.00, 793.00, and 782.00 November, with resistance at 844.00, 856.00, and 868.00 November. Trends in Palm Oil are down. Support is at 4480, 4420, and 4360 December, with resistance at 4800, 4890, and 4960 December.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 29, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
USD Malaysian Crude Palm Oil C – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 25 METRIC TONS) :
CFTC Code #037021 Open Interest is 45,713 :
: Positions :
: 38,019 35,766 1,526 250 3,581 520 5,036 120 1,027 120 840 :
: Changes from: September 22, 2026 :
: 2,831 2,316 -20 0 420 0 580 -200 45 0 -120 :
: Percent of Open Interest Represented by Each Category of Trader :
: 83.2 78.2 3.3 0.5 7.8 1.1 11.0 0.3 2.2 0.3 1.8 :
: Number of Traders in Each Category Total Traders: 27 :
: 10 9 5 . 4 . . . 5 . . :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 29, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
CANOLA – ICE FUTURES U.S. (20 Metric Tonnes) :
CFTC Code #135731 Open Interest is 385,957 :
: Positions :
: 156,399 227,105 5,923 19,796 5,244 131,911 23,123 34,104 12,146 35,325 37,229 :
: Changes from: September 22, 2026 :
: -19,969 -30,907 -956 -1,880 305 -5,345 1,072 1,476 -2,124 3,009 1,056 :
: Percent of Open Interest Represented by Each Category of Trader :
: 40.5 58.8 1.5 5.1 1.4 34.2 6.0 8.8 3.1 9.2 9.6 :
: Number of Traders in Each Category Total Traders: 511 :
: 53 144 4 12 10 76 27 23 59 173 67 :
—————————————————————————————————————-

DJ Malaysian PM Cash Market Prices for Palm Oil – Oct 5
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, 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
Oct 1127.50 +12.50 Unquoted – –
Nov 1137.50 +07.50 Unquoted – –
Dec 1157.50 +05.00 Unquoted – –
Jan/Feb/Mar 1197.50 +10.00 Unquoted – –
Apr/May/Jun 1242.50 +02.50 Unquoted – –
Jul/Aug/Sep 1247.50 +07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Oct 1132.50 +12.50 Unquoted – –
Nov 1142.50 +07.50 Unquoted – –
Dec 1162.50 +05.00 Unquoted – –
Jan/Feb/Mar 1202.50 +10.00 Unquoted – –
Apr/May/Jun 1247.50 +02.50 Unquoted – –
Jul/Aug/Sep 1252.50 +07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Oct 1097.50 +12.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Oct 1047.50 +17.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Oct 4,420.00 +20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Oct 374.00 00.00 Unquoted – –
($1=MYR4.0845)

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