Grains Report 08/06/2025

DJ CBOT Delivery Intentions: Totals – Aug 6
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL August Aug 07, 2025 518 Aug 05, 2025

WHEAT
General Comments: Wheat was lower yesterday and closed at new lows for the move. 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 down. Support is at 507, 496 and 490 September, with resistance at 526, 532, and 541 September. Trends in Kansas City are mixed to down. Support is at 504, 498, and 492 September, with resistance at 530, 537, and 549 September. Trends in Minneapolis are not available.

RICE:
General Comments Rice was higher yesterday with commercial buying reported against very little selling interest. Chart trends are mixed on the daily charts. The cash market has been slow 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. There is more concern about the crops in Arkansas where it has turned very hot. 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 mixed. Support is at 1215, 1106, and 1194 September and resistance is at 1270, 1275, and 1285 September.

CORN AND OATS
General Comments: Corn was lower again yesterday on what appeared to be commercial buying and speculative selling on widespread record crop production predictions based on additional forecasts for improving weather for the Midwest. A slow warming trend could develop through this weekend and it should be mostly dry. 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. Oats were lower but held recent lows on the weekly charts.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 381, 378, and 375 September, and resistance is at 414, 418, and 426 September. Trends in Oats are mixed to down. Support is at 327, 321, and 315 September, and resistance is at 357, 362, and 370 September.

SOYBEANS
General Comments: Soybeans and Soybean Oil were lower yesterday and Soybean Meal was mixed as good growing conditions continue in the Midwest. Temperatures should turn a little warmer through the weekend. 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 966, 956, and 944 September, and resistance is at 985, 995, and 1004 September. Trends in Soybean Meal are mixed. Support is at 267.00, 263.00, and 260.00 September, and resistance is at 281.00, 285.00, and 291.00 September. Trends in Soybean Oil are mixed. Support is at 5290, 5160, and 5030 September, with resistance at 5590, 5660, and 5760 September.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher yesterday but the rally appears to be limited for now. 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 lower in part on a stronger Canadian Dollar. Trends are mixed to up on the daily charts and on the weekly charts. The weather has generally been dry for crop development in the Prairies with warm and dry weather still around.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 665.00, 660.00, and 654.00 November, with resistance at 695.00, 706.00, and 713.00 November. Trends in Palm Oil are up. Support is at 4130, 4080, and 4020 October, with resistance at 4350, 4410, and 4470 October.

DJ Malaysian PM Cash Market Prices for Palm Oil – Aug 6
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
Aug 1042.50 -02.50 Unquoted – –
Sep 1045.00 -05.00 Unquoted – –
Oct/Nov/Dec 1050.00 -02.50 Unquoted – –
Jan/Feb/Mar 1057.50 -02.50 Unquoted – –
Apr/May/Jun 1045.00 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1047.50 -02.50 Unquoted – –
Sep 1050.00 -05.00 Unquoted – –
Oct/Nov/Dec 1055.00 -02.50 Unquoted – –
Jan/Feb/Mar 1062.50 -02.50 Unquoted – –
Apr/May/Jun 1050.50 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1025.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 935.00 -10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 4,230.00 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 450.00 00.00 Unquoted – –
($1=MYR4.228)

DJ China Dalian Grain Futures Closing Prices, Volume – Aug 06
Soybean No. 1
Turnover: 206,122 lots, or 8.47 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 4,121 4,146 4,091 4,118 4,121 4,118 -3 93,189 100,381
Nov-25 4,116 4,128 4,075 4,092 4,100 4,097 -3 80,926 125,634
Jan-26 4,107 4,128 4,078 4,095 4,101 4,101 0 26,336 45,337
Mar-26 4,095 4,118 4,071 4,083 4,091 4,092 1 4,082 24,696
May-26 4,133 4,153 4,107 4,122 4,130 4,130 0 1,004 2,627
Jul-26 4,125 4,144 4,098 4,117 4,122 4,122 0 585 3,768
Corn
Turnover: 693,765 lots, or 15.51 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 2,253 2,263 2,245 2,259 2,259 2,255 -4 409,488 722,961
Nov-25 2,212 2,216 2,204 2,213 2,215 2,210 -5 168,053 556,357
Jan-26 2,197 2,197 2,188 2,194 2,198 2,192 -6 80,043 265,662
Mar-26 2,198 2,203 2,194 2,199 2,200 2,197 -3 22,472 104,499
May-26 2,238 2,247 2,238 2,247 2,246 2,242 -4 10,183 40,458
Jul-26 2,260 2,265 2,257 2,265 2,264 2,260 -4 3,526 12,106
Soymeal
Turnover: 1,919,237 lots, or 57.90 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 3,013 3,013 3,000 3,013 3,016 3,007 -9 182 1,087
Sep-25 3,036 3,046 3,004 3,026 3,030 3,027 -3 945,564 1,203,970
Nov-25 3,078 3,083 3,042 3,064 3,066 3,064 -2 136,841 644,840
Dec-25 3,104 3,112 3,077 3,095 3,096 3,095 -1 15,770 135,934
Jan-26 3,076 3,088 3,052 3,072 3,069 3,072 3 591,739 1,540,786
Mar-26 2,944 2,950 2,928 2,948 2,935 2,942 7 51,933 411,046
May-26 2,760 2,763 2,742 2,762 2,752 2,754 2 160,217 736,641
Jul-26 2,749 2,749 2,726 2,741 2,730 2,735 5 16,991 97,578
Palm Oil
Turnover: 780,499 lots, or 70.08 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 9,062 9,076 8,896 8,970 8,946 8,980 34 557,925 344,307
Oct-25 9,034 9,044 8,912 8,978 8,934 8,978 44 5,592 6,490
Nov-25 9,050 9,050 8,912 8,978 8,942 8,976 34 1,765 4,451
Dec-25 9,038 9,046 8,930 8,980 8,906 8,980 74 126 539
Jan-26 9,044 9,060 8,916 8,986 8,930 8,986 56 204,518 238,707
Feb-26 8,938 8,964 8,920 8,964 8,906 8,944 38 11 957
Mar-26 8,940 8,948 8,872 8,910 8,832 8,910 78 17 277
Apr-26 8,890 8,890 8,836 8,836 8,840 8,882 42 12 69
May-26 8,846 8,852 8,730 8,778 8,744 8,780 36 10,497 27,269
Jun-26 8,742 8,742 8,698 8,714 8,684 8,708 24 15 39
Jul-26 8,666 8,668 8,618 8,618 8,594 8,654 60 21 61
Soybean Oil
Turnover: 651,246 lots, or 5.43 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 8,688 8,688 8,300 8,300 8,284 8,514 230 4 611
Sep-25 8,350 8,418 8,300 8,406 8,294 8,360 66 336,777 458,019
Nov-25 8,350 8,416 8,308 8,410 8,296 8,366 70 5,909 13,993
Dec-25 8,358 8,418 8,314 8,410 8,298 8,370 72 949 2,540
Jan-26 8,320 8,392 8,272 8,380 8,264 8,334 70 277,499 551,672
Mar-26 8,232 8,270 8,186 8,268 8,192 8,242 50 251 1,657
May-26 7,954 7,980 7,906 7,964 7,904 7,944 40 29,747 75,488
Jul-26 7,938 7,942 7,870 7,932 7,882 7,922 40 110 173
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.

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