Grains Report 11/02/2026

DJ CBOT Delivery Intentions: Totals – Nov 2
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
ROUGH RICE November Nov 03, 2026 32 Oct 30, 2026
SOYBEAN November Nov 03, 2026 2 Aug 18, 2026

WHEAT:
General Comments: Wheat was lower in both markets last week on early week selling but some recovery late in the week ideas that the market is near a low on the charts but as planting. The emergence of Winter Wheat are 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 76% complete last week and Winter Wheat was 53% 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 591, 580, and 568 December, with resistance at 621, 645 and 662 December. Trends in Kansas City are down. Support is at 636, 628, and 616 December, with resistance at 676, 711, and 725 December. Trends in Minneapolis are not available

COT — Supplemental Report – Option and Futures Combined Positions as of October 27, 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 628,869
: Positions :
: 64,153 147,646 227,530 164,092 141,023 133,650 74,503 589,425 590,703: 39,444 38,166
: Changes from: October 20, 2026 (Change in open interest: -9,053) :
: -11 7,097 -13,811 13,025 -6,797 -9,377 3,775 -10,175 -9,736: 1,122 682
: Percent of Open Interest Represented by Each Category of Trader :
: 10.2 23.5 36.2 26.1 22.4 21.3 11.8 93.7 93.9: 6.3 6.1
: Total Traders: 419 Number of Traders in Each Category :
: 129 103 145 103 112 42 24 346 318:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of October 27, 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 361,388
: Positions :
: 38,325 70,019 131,361 85,466 120,515 86,759 15,104 341,911 336,998: 19,478 24,390
: Changes from: October 20, 2026 (Change in open interest: 6,295) :
: -1,313 5,779 3,957 12,592 -2,793 -6,719 356 8,517 7,299: -2,222 -1,004
: Percent of Open Interest Represented by Each Category of Trader :
: 10.6 19.4 36.3 23.6 33.3 24.0 4.2 94.6 93.3: 5.4 6.7
: Total Traders: 269 Number of Traders in Each Category :
: 63 66 90 70 84 35 14 216 213:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of October 27, 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 80,279 :
: Positions :
: 37,706 42,081 9,286 1,746 923 14,981 18,694 1,135 1,508 1,094 3,981 :
: Changes from: October 20, 2026 :
: 4,555 -3,400 597 535 85 -586 7,320 -259 -286 258 -59 :
: Percent of Open Interest Represented by Each Category of Trader :
: 47.0 52.4 11.6 2.2 1.1 18.7 23.3 1.4 1.9 1.4 5.0 :
: Number of Traders in Each Category Total Traders: 121 :
: 57 42 7 . 5 11 20 6 7 5 8 :
—————————————————————————————————————-

RICE:
General Comments Rice closed a little lower last week as the overall supply scenario remains tight at home and around the world. Lula was elected president of Brazil over the previous weekend in a surprise that hurt the Real and grains prices in general. 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. Demand remains moderate for US Rice and was moderate to good 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 1755, 1735, and 1710 January and resistance is at 1821, 1832, and 1844 January.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of October 27, 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 15,792 :
: Positions :
: 5,387 10,429 251 137 0 4,423 939 0 1,440 1,219 1,557 :
: Changes from: October 20, 2026 :
: 303 229 77 0 0 141 -188 -25 73 39 -452 :
: Percent of Open Interest Represented by Each Category of Trader :
: 34.1 66.0 1.6 0.9 0.0 28.0 5.9 0.0 9.1 7.7 9.9 :
: Number of Traders in Each Category Total Traders: 77 :
: 16 15 . . 0 18 5 0 16 8 8 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn was a little lower last week on speculative bottom picking and some commercial buying against speculative and fund selling and on reports of good harvest progress amid warm and dry weather. Trends are mixed to down on the daily and weekly charts. There is moderating weather in the western and southern Midwest with mostly dry conditions. Harvest has been active in most 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 lower from the previous week and below aa year ago. Progress is below normal and the harvest is now 60% complete. Temperatures in the Midwest should be warmer this week amid mostly dry weather. Oats were lower and trends are down on the weekly charts.
Overnight News: Mexico bought 1,729,740 tons of US Corn.
Chart Analysis: Trends in Corn are mixed to down . Support is at 448, 442, and 436 December, and resistance is at 470, 478, and 488 December. Trends in Oats are down. Support is at 341, 335, and 330 December, and resistance is at 370, 383, and 405 December.

COT — Supplemental Report – Option and Futures Combined Positions as of October 27, 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 2,494,153
: Positions :
: 189,729 214,313 866,576 782,408 1,045,602 446,387 146,730 2,285,100 2,273,221: 209,053 220,932
: Changes from: October 20, 2026 (Change in open interest: -45,142) :
: -38,386 37,395 -10,461 7,416 -62,976 -18,701 -4,247 -60,132 -40,289: 14,990 -4,854
: Percent of Open Interest Represented by Each Category of Trader :
: 7.6 8.6 34.7 31.4 41.9 17.9 5.9 91.6 91.1: 8.4 8.9
: Total Traders: 905 Number of Traders in Each Category :
: 183 149 229 442 412 48 24 789 714:
——————————————————————————————————————-

SOYBEANS
General Comments: Soybeans and the products were lower last week on great harvest progress and despite buying from China. The weekly chart trends are down in Soybeans and Soybean Meal and are mixed to down in Soybean Oil. China is expected to buy more cargoes of US Soybeans in the coming weeks but the tariffs will remain high. Lula was elected president of Brazil over the previous weekend It was a surprise to the market and hurt the Real against the Dollar and Ag prices generally, especially those featuring selling from Brazil. The harvest was 79% complete last week. Cooler and dry weather is likely in the north.
Overnight News: China bought 136,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed to down. Support is at 1214, 1194, and 1181 January, and resistance is at 1250, 1262, and 1276 January. Trends in Soybean Meal are down. Support is at 326.00, 323.00, and 320.00 December, and resistance is at 353.00, 361.00,and 369.00 December. Trends in Soybean Oil are mixed to down. Support is at 6420, 6300, and 6180 December, with resistance at 6740, 6880, and 7010 December.

COT — Supplemental Report – Option and Futures Combined Positions as of October 27, 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 1,133,516
: Positions :
: 190,228 57,240 292,492 401,988 657,555 196,616 49,929 1,081,324 1,057,216: 52,192 76,300
: Changes from: October 20, 2026 (Change in open interest: -233,788) :
: -27,696 -13,364 -110,701 -71,650 -87,578 -20,322 -14,187 -230,369 -225,829: -3,418 -7,958
: Percent of Open Interest Represented by Each Category of Trader :
: 16.8 5.0 25.8 35.5 58.0 17.3 4.4 95.4 93.3: 4.6 6.7
: Total Traders: 631 Number of Traders in Each Category :
: 144 108 175 226 295 48 22 508 526:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of October 27, 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 644,405
: Positions :
: 67,335 56,376 187,923 216,255 344,719 135,632 30,720 607,145 619,738: 37,259 24,667
: Changes from: October 20, 2026 (Change in open interest: 2,479) :
: -13,311 2,299 9,782 6,381 -12,173 -2,001 918 851 826: 1,628 1,653
: Percent of Open Interest Represented by Each Category of Trader :
: 10.4 8.7 29.2 33.6 53.5 21.0 4.8 94.2 96.2: 5.8 3.8
: Total Traders: 319 Number of Traders in Each Category :
: 81 60 97 95 98 39 19 257 244:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of October 27, 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 709,701
: Positions :
: 150,184 35,368 183,910 159,444 441,396 162,457 15,719 655,996 676,394: 53,706 33,308
: Changes from: October 20, 2026 (Change in open interest: -36,122) :
: -34,470 -932 -1,313 5,899 -37,085 -3,455 1,004 -33,339 -38,325: -2,783 2,203
: Percent of Open Interest Represented by Each Category of Trader :
: 21.2 5.0 25.9 22.5 62.2 22.9 2.2 92.4 95.3: 7.6 4.7
: Total Traders: 352 Number of Traders in Each Category :
: 101 53 107 117 131 38 13 303 266:
——————————————————————————————————————-

PALM OIL AND CANOLA
General Comments: Palm Oil was lower last week and were lower today on the weakness sin Crude Oil. Weekly trends are mixed. Canola was lower and trends are still generally down on the daily and weekly charts.
Overnight News
Chart Analysis: Trends in Canola are mixed to down. Support is at 775.00, 764.00, and 759.00 January, with resistance at 796.00, 818.00, and 829.00 January. Trends in Palm Oil are mixed to down. Support is at 4580, 4560, and 4500 January, with resistance at 4780, 4\850, and 4890 January.

DJ Malaysia Oct. 1-31 Palm Oil Exports Rose 73% on Month, AmSpec Says
By Ying Xian Wong
Malaysia’s palm oil exports during the Oct. 1-31 period are estimated up 73% on month at 1,649,495 metric tons, cargo surveyor AmSpec Agri Malaysia said Monday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
Oct. 1-31 Sept. 1-30
RBD Palm Olein 320,518 245,363
RBD Palm Oil 127,233 104,469
RBD Palm Stearin 132,727 75,723
Crude Palm Oil 568,862 274,132
Total* 1,649,495 950,957
*Palm oil product volumes don’t add up to total as some products aren’t included.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of October 27, 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 42,134 :
: Positions :
: 34,102 35,079 3,101 180 2,836 200 2,829 370 785 120 720 :
: Changes from: October 20, 2026 :
: -328 -110 78 0 40 0 40 0 -60 -240 120 :
: Percent of Open Interest Represented by Each Category of Trader :
: 80.9 83.3 7.4 0.4 6.7 0.5 6.7 0.9 1.9 0.3 1.7 :
: Number of Traders in Each Category Total Traders: 25 :
: 10 9 . . 4 . . . 4 . . :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of October 27, 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 284,910 :
: Positions :
: 133,462 125,157 1,479 17,957 4,006 89,261 42,841 29,223 5,930 43,300 19,515 :
: Changes from: October 20, 2026 :
: -35,151 -61,597 -448 -2,046 -1,262 -23,475 7,806 -12,141 992 -2,373 -20,115 :
: Percent of Open Interest Represented by Each Category of Trader :
: 46.8 43.9 0.5 6.3 1.4 31.3 15.0 10.3 2.1 15.2 6.8 :
: Number of Traders in Each Category Total Traders: 341 :
: 46 82 6 8 7 57 39 30 42 88 36 :
—————————————————————————————————————-

DJ Malaysian PM Cash Market Prices for Palm Oil – Nov 2
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
Offer Change Bid Change Traded
Nov 1125.00 -15.00 Unquoted – –
Dec 1152.50 -17.50 Unquoted – –
Jan/Feb/Mar 1195.00 -17.50 Unquoted – –
Apr/May/Jun 1227.50 -17.50 Unquoted – –
Jul/Aug/Sep 1217.50 -12.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1130.00 -15.00 Unquoted – –
Dec 1157.50 -17.50 Unquoted – –
Jan/Feb/Mar 1200.00 -17.50 Unquoted – –
Apr/May/Jun 1232.50 -17.50 Unquoted – –
Jul/Aug/Sep 1222.50 -12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1092.50 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 1027.50 -07.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 4,420.00 -40.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 416.00 -03.00 Unquoted – –
($1=MYR4.0685)

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