Grains Report 10/21/2026

WHEAT:
General Comments: Wheat was lower in both markets again yesterday as planting and emergence of Winter Wheat was ahead of normal with improved weather in the Great Plains. 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 was 63% complete last week and was 39% emerged. 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 scattered showers in all areas.
Overnight News:
Chart Analysis: Trends in Chicago are down. Support is at 636, 618, and 611 December, with resistance at 692, 706 and 711 December. Trends in Kansas City are down. Support is at 657, 645, and 642 December, with resistance at 743, 760, and 780 December. Trends in Minneapolis are not available

RICE:
General Comments Rice closed higher despite reports of farm selling as the overall supply scenario remains tight at home and around the world. Damage to unharvested crops is reported from the hurricane and there are worries about El Nino hurting world production. Brazil prices are strong on ideas of short production and El Nino fears for production on the next crop. Harvest is 97% 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 up on the daily charts and are up on the weekly charts,
Overnight News:
Chart Analysis: Trends are up. Support is at 1700, 1687, and 1670 November and resistance is at 1749, 1760, and 1772 November.

CORN AND OATS
General Comments: Corn was lower again yesterday on reports of good harvest progress. End user buying and no farm selling continue to support overall. Trends are down on the daily 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 still at war and shipping is very limited in both countries. It should be cooler with drier weather in the Midwest this week. The crop conditions last week were slightly higher from the previous week and below aa year ago. Progress is about normal and the harvest is now 95% mature and 44% complete. Temperatures in the Midwest should be warmer this week amid mostly dry weather. Oats were lower again and trends are turning down on the weekly charts.
Overnight News:
Chart Analysis: Trends in Corn are mixed to down . Support is at 464, 458, and 452 December, and resistance is at 486, 505, and 509 December. Trends in Oats are mixed. Support is at 390, 378, and 366 December, and resistance is at 440, 443, and 446 December.

SOYBEANS
General Comments: Soybeans and the products were lower yesterday on great harvest progress and despite big new buying from China. China is expected to buy more cargoes of US Soybeans in the coming weeks but the tariffs will remain high. The harvest was 64% complete last week. Condition was unchanged from the previous week. Warm and dry weather is likely in the north.
Overnight News: China bought 134,000 tons of US Soybeans and Spain bought 1650o00 tons of US Soybeans.
Analysis: Trends in Soybeans are mixed to down. Support is at 1244, 1232, and 1220 November, and resistance is at 1309, 1335, and 1348 September. Trends in Soybean Meal are mixed to down. Support is at 345.00, 343.00, and 337.00 December, and resistance is at 374.00, 380.00,and 386.00 December. Trends in Soybean Oil are mixed to down. Support is at 6600, 6540, and 6480 December, with resistance at 7070, 7170, and 7220 December.

PALM OIL AND CANOLA
General Comments: Palm Oil was lower today on price action in the outside markets. Daily chart trends are mixed and weekly trends are mixed to up. Canola was lower yesterday and trends are down on the daily charts.
Overnight News
Chart Analysis: Trends in Canola are mixed. Support is at 782.00, 770.00, and 754.00 November, with resistance at 844.00, 856.00, and 868.00 November. Trends in Palm Oil are mixed. Support is at 4550, 4490, and 4430 December, with resistance at 4760, 4800, and 4890 December.

DJ Malaysian PM Cash Market Prices for Palm Oil – Oct 21
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
Nov 1145.00 -07.50 Unquoted – –
Dec 1175.00 -12.50 Unquoted – –
Jan/Feb/Mar 1225.00 -07.50 Unquoted – –
Apr/May/Jun 1267.50 00.00 Unquoted – –
Jul/Aug/Sep 1255.00 -07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1150.00 -07.50 Unquoted – –
Dec 1180.00 -12.50 Unquoted – –
Jan/Feb/Mar 1230.00 -07.50 Unquoted – –
Apr/May/Jun 1272.50 00.00 Unquoted – –
Jul/Aug/Sep 1260.00 -07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1110.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 1050.00 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 4,550.00 -10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 440.00 +05.00 Unquoted – –
($1=MYR4.0787)

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