Grains Report 08/01/2025

DJ CBOT Delivery Intentions: Totals – Aug 1
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL August Aug 04, 2025 629 Jul 30, 2025
SOYBEAN OIL August Aug 04, 2025 3 Jul 29, 2025
SOYBEAN August Aug 04, 2025 408 Jul 24, 2025

WHEAT
General Comments: Wheat was a little lower yesterday, with Chicago the weaker market. Ideas of solid harvest progress and good yields are still around and are forcing the selling. Harvest conditions for Winter Wheat appear to be good in the US and Spring Wheat development is currently good. Rains have been good in the northern Great Plains but Canada has been a little too dry for best yield potential and the northern Plains had hot and dry areas earlier in the year. Canada could still produce an average to above average crop. Russia is still being watched for dry weather that has so far hurt yields and Ukraine is watched for the same reason and because of the war that could destroy some fields. Russian Black Sea prices have been firming as producers are not making sales and are looking for higher prices to offset yield losses. Southern hemisphere crops appear to be good. The weekly export sales report showed sales within trade expectations.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 515, 508 and 496 September, with resistance at 568, 572, and 582 September. Trends in Kansas City are mixed. Support is at 516, 504, and 498 September, with resistance at 550, 565, and 578 September. Trends in Minneapolis are not available.

RICE:
General Comments Rice was a little lower again yesterday. Chart trends are still mostly down on the daily charts and September futures gave a test of the recent lows. The cash market has been slow with mostly quiet with low bids from buyers in domestic markets and average or less export demand. New crop harvesting has started in Louisiana with reports of good but not great yields and quality. Milling quality of the old crop Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters. Rice is heading in most growing areas now and harvest has started near the Gulf Coast.
Overnight News:
Chart Analysis: Trends are down. Support is at 1228, 1218, and 1206 September and resistance is at 1276, 1285, and 1298 September.

CORN AND OATS
General Comments: Corn was higher again yesterday on what appeared to be commercial buying based on another week of strong export sales and despite additional forecasts for improving weather for the Midwest. Temperatures should stay warm to hot for one more day, but then cooler temperatures should return. Rain is expected with the cooler temperatures. Most of the Midwest has seen adequate or greater precipitation and production ideas are high. Yield estimates near or above 186 bushels per acre are frequently heard. Demand for Corn in world markets remains strong. The weekly export sales report showed that sales were at the high end of trade expectations. Oats were lower.
Overnight News: USDA said that 227,160 tons of Corn were received for delivery zto unknown destinations and that 126,000 tons of US Corn were sold to unknown destinations.
Chart Analysis: Trends in Corn are mixed. Support is at 387, 384, and 381 September, and resistance is at 414, 418, and 426 September. Trends in Oats are mixed to down. Support is at 349, 339, and 335 September, and resistance is at 383, 388, and 394 September.

SOYBEANS
General Comments: Soybeans and the products were lower again yesterday as good growing conditions continue in the Midwest. Temperatures should turn cooler today and for at least the next week and there should be some showers around as well. Prices are now reported to be higher in Brazil, but China and other buyers are still buying there for political reasons. Export demand remains less for US Soybeans as China has been taking almost all the export from South America. The weekly export sales report showed sales within expectations of the trade.
Overnight News:
Analysis: Trends in Soybeans are down. Support is at 968, 956, and 944 September, and resistance is at 985, 995, and 1004 September. Trends in Soybean Meal are down. Support is at 263.00, 260.00, and 257.00 September, and resistance is at 269.00, 274.00, and 276.00 September. Trends in Soybean Oil are mixed. Support is at 5480, 5380, and 5290 September, with resistance at 5660, 5760, and 5820 September.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher today. There was talk that India will soon be buying a lot with festivals coming soon. Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around. Canola was a little lower. Trends are mixed to up on the daily charts and on the weekly charts. The weather has generally been dry for planting and crop development in the Prairies with warm and dry weather around lately.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 674.00, 665.00, and 660.00 November, with resistance at 713.00, 717.00, and 738.00 November. Trends in Palm Oil are up. Support is at 4130, 4080, and 4020 October, with resistance at 4350, 4410, and 4470 October.

DJ China Dalian Grain Futures Closing Prices, Volume – Aug 01
Soybean No. 1
Turnover: 132,211 lots, or .54 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 4,131 4,142 4,115 4,122 4,137 4,126 -11 83,800 120,599
Nov-25 4,116 4,121 4,099 4,108 4,124 4,110 -14 30,315 121,368
Jan-26 4,104 4,108 4,088 4,098 4,112 4,098 -14 12,575 36,031
Mar-26 4,075 4,101 4,075 4,090 4,103 4,090 -13 2,628 23,681
May-26 4,124 4,139 4,121 4,131 4,139 4,129 -10 520 2,203
Jul-26 4,126 4,137 4,117 4,121 4,143 4,126 -17 2,373 3,637
Corn
Turnover: 647,971 lots, or 14.74 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 2,287 2,310 2,282 2,297 2,304 2,296 -8 448,997 746,716
Nov-25 2,230 2,241 2,225 2,230 2,234 2,233 -1 124,713 507,243
Jan-26 2,206 2,222 2,204 2,213 2,212 2,213 1 53,689 225,115
Mar-26 2,210 2,219 2,205 2,212 2,213 2,213 0 12,387 94,884
May-26 2,256 2,265 2,252 2,255 2,260 2,258 -2 5,939 33,830
Jul-26 2,273 2,282 2,271 2,274 2,277 2,276 -1 2,246 10,262
Soymeal
Turnover: 1,823,054 lots, or 54.58 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 2,983 3,006 2,982 2,983 2,996 2,998 2 837 1,652
Sep-25 2,996 3,022 2,989 3,010 3,006 3,004 -2 1,016,300 1,396,108
Nov-25 3,033 3,058 3,027 3,047 3,044 3,043 -1 113,663 623,912
Dec-25 3,062 3,080 3,055 3,073 3,073 3,068 -5 14,044 129,397
Jan-26 3,038 3,049 3,024 3,037 3,041 3,035 -6 486,810 1,443,501
Mar-26 2,912 2,930 2,904 2,924 2,914 2,918 4 65,596 414,492
May-26 2,736 2,745 2,728 2,738 2,737 2,734 -3 113,746 719,886
Jul-26 2,720 2,724 2,712 2,719 2,719 2,717 -2 12,058 94,206
Palm Oil
Turnover: 663,236 lots, or 59.01 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 – – – 8,808 8,808 8,808 0 0 850
Sep-25 8,880 8,950 8,838 8,910 8,912 8,894 -18 512,068 394,141
Oct-25 8,892 8,950 8,848 8,914 8,920 8,900 -20 5,285 7,637
Nov-25 8,878 8,950 8,854 8,918 8,920 8,902 -18 1,389 2,767
Dec-25 8,896 8,946 8,872 8,932 8,914 8,898 -16 143 688
Jan-26 8,878 8,964 8,868 8,930 8,930 8,914 -16 136,932 201,090
Feb-26 8,878 8,916 8,856 8,898 8,908 8,886 -22 44 945
Mar-26 8,840 8,868 8,806 8,856 8,866 8,836 -30 59 267
Apr-26 9,300 9,300 8,748 8,810 8,828 8,804 -24 57 78
May-26 8,722 8,776 8,688 8,744 8,750 8,732 -18 7,232 23,124
Jun-26 8,660 8,682 8,634 8,682 8,702 8,664 -38 13 37
Jul-26 8,620 8,620 8,558 8,602 8,636 8,594 -42 14 50
Soybean Oil
Turnover: 643,621 lots, or 5.28 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 – – – 8,240 8,240 8,240 0 0 1,246
Sep-25 8,190 8,290 8,168 8,274 8,206 8,228 22 417,594 499,756
Nov-25 8,190 8,278 8,168 8,266 8,202 8,220 18 5,764 11,752
Dec-25 8,194 8,290 8,178 8,276 8,204 8,230 26 918 2,157
Jan-26 8,160 8,246 8,132 8,226 8,164 8,186 22 204,922 454,396
Mar-26 8,038 8,146 8,036 8,118 8,052 8,078 26 242 1,504
May-26 7,802 7,884 7,790 7,848 7,812 7,834 22 14,167 57,302
Jul-26 7,800 7,832 7,780 7,832 7,782 7,802 20 14 138
Notes:
1) Unit is Chinese yuan a metric ton;
2) Ch. is day’s settlement minus previous settlement;
3) Volume and open interest are in lots;
4) One lot is equivalent to 10 metric tons.

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