Grains Report 08/07/2025

DJ Repeat & Correct: U.S. Export Sales: Weekly Sales Totals-Aug 7
“U.S. Export Sales: Weekly Sales Totals-Aug 7,” at 8:38 ET, incorrectly stated data for rice.
The correct version follows:
For the week ended Jul 31, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1. The
marketing year for corn, soybeans and sorghum begins Sep 1. The
marketing year for soymeal and soyoil begins Oct 1.
For rice and cotton, “this year” is the 2025-2026 marketing
year, which began Aug 1, while “last year” is 2024-2025.
Source: USDA
wk’s net change total
in commitments commitments undlvd sales
this year next year this yr last yr this yr next yr
wheat 737.8 0.0 10282.4 8506.0 6387.7 47.4
hrw 414.3 0.0 4072.2 2073.6 2391.5 38.0
srw 78.9 0.0 1579.0 1369.1 964.9 9.4
hrs 143.4 0.0 2738.0 2850.2 1735.9 0.0
white 87.1 0.0 1730.0 2078.7 1217.5 0.0
durum 14.1 0.0 163.2 134.3 78.0 0.0
corn 170.4 3163.2 70621.3 55696.0 7730.9 11777.5
soybeans 467.8 545.0 51492.5 45716.5 3605.4 3579.4
soymeal 169.4 112.4 15525.4 13735.9 2834.1 1901.5
soyoil 7.0 0.0 1088.4 219.9 38.8 15.9
upland cotton 707.7-a 0.0 2885.4 4101.7 2885.4 216.1
pima cotton 36.6-b 0.0 91.0 53.0 91.0 0.0
sorghum 0.0 34.0 1733.5 5847.6 103.7 34.3
barley -5.9 0.0 48.6 20.1 34.5 0.0
rice 93.5-c 0.0 497.1 578.1 497.1 0.0
-a: Includes new sales activity for Aug 1-7 which resulted
in a net increase of 109.3 thousand metric tons. Also includes
598.4 thousand metric tons of undelivered sales carried over from
2024-2025.
-b: Includes new sales activity for Aug 1-7 which
resulted in a net increase of 5.3 thousand metric tons. Also includes
31.3 thousand metric tons of undelivered sales carried over from
2024-2025.
-c: Includes new sales activity for Aug 1-7 which
resulted in a net increase of 93.5 thousand metric tons. Also includes
129.3 thousand metric tons of undelivered sales carried over from
2024-2025.

DJ CBOT Delivery Intentions: Totals – Aug 7
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL August Aug 08, 2025 322 Aug 06, 2025
SOYBEAN OIL August Aug 08, 2025 61 Jul 29, 2025
SOYBEAN August Aug 08, 2025 60 Jul 28, 2025

WHEAT
General Comments: Wheat was slightly higher yesterday after making 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 496, 490 and 484 September, with resistance at 526, 532, and 541 September. Trends in Kansas City are mixed to down. Support is at 503, 498, and 492 September, with resistance at 530, 537, and 549 September. Trends in Minneapolis are not available.

RICE:
General Comments Rice was a little lower yesterday. 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 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: Mexico bought 106,680 tons of US Corn and Guatemala bought 195,000 tons of US Corn
Chart Analysis: Trends in Corn are down. Support is at 375, 372, and 369 September, and resistance is at 388, 396, and 403 September. Trends in Oats are mixed to down. Support is at 326, 321, and 315 September, and resistance is at 357, 362, and 370 September.

SOYBEANS
General Comments: Soybeans and Soybean Meal were lower yesterday and Soybean Oil was a little higher 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.
Overnight News:
Analysis: Trends in Soybeans are down. Support is at 956, 944, and 932 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 lower yesterday along with the priceacztion in Chicago. 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 mixed. 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 7
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Thursday, 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 00.00 Unquoted – –
Sep 1045.00 00.00 Unquoted – –
Oct/Nov/Dec 1045.00 -05.00 Unquoted – –
Jan/Feb/Mar 1055.00 -02.50 Unquoted – –
Apr/May/Jun 1042.50 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1047.50 00.00 Unquoted – –
Sep 1050.00 00.00 Unquoted – –
Oct/Nov/Dec 1050.00 -05.00 Unquoted – –
Jan/Feb/Mar 1060.00 -02.50 Unquoted – –
Apr/May/Jun 1047.50 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1025.00 00.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 935.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 4,230.00 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 450.00 00.00 Unquoted – –
($1=MYR4.232)

DJ China Dalian Grain Futures Closing Prices, Volume – Aug 07
Soybean No. 1
Turnover: 133,651 lots, or 5.50 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 4,118 4,137 4,117 4,134 4,118 4,128 10 59,712 84,360
Nov-25 4,102 4,112 4,090 4,099 4,097 4,099 2 52,942 132,531
Jan-26 4,098 4,111 4,092 4,100 4,101 4,100 -1 17,121 46,698
Mar-26 4,085 4,100 4,075 4,090 4,092 4,090 -2 2,042 24,657
May-26 4,131 4,138 4,122 4,126 4,130 4,128 -2 863 2,529
Jul-26 4,125 4,132 4,116 4,123 4,122 4,124 2 971 3,879
Corn
Turnover: 610,038 lots, or 13.69 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 2,263 2,270 2,257 2,267 2,255 2,266 11 365,249 685,053
Nov-25 2,214 2,222 2,210 2,213 2,210 2,214 4 145,497 573,190
Jan-26 2,195 2,199 2,191 2,195 2,192 2,194 2 68,568 272,480
Mar-26 2,203 2,205 2,197 2,202 2,197 2,200 3 20,099 107,737
May-26 2,245 2,251 2,245 2,250 2,242 2,248 6 9,109 41,848
Jul-26 2,264 2,268 2,263 2,267 2,260 2,265 5 1,516 12,321
Soymeal
Turnover: 1,427,979 lots, or 43.03 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 3,013 3,025 2,999 3,025 3,007 3,004 -3 307 780
Sep-25 3,030 3,033 3,006 3,031 3,027 3,020 -7 611,193 1,128,665
Nov-25 3,066 3,070 3,044 3,068 3,064 3,058 -6 93,849 652,167
Dec-25 3,090 3,103 3,079 3,102 3,095 3,090 -5 12,271 137,486
Jan-26 3,077 3,080 3,054 3,078 3,072 3,068 -4 527,084 1,600,487
Mar-26 2,947 2,955 2,930 2,949 2,942 2,943 1 48,961 416,956
May-26 2,762 2,764 2,743 2,760 2,754 2,754 0 119,498 761,421
Jul-26 2,740 2,743 2,729 2,742 2,735 2,737 2 14,816 99,006
Palm Oil
Turnover: 676,516 lots, or 6.08 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 – – – 8,808 8,808 8,808 0 1 850
Sep-25 9,000 9,050 8,920 8,950 8,980 8,988 8 445,128 317,188
Oct-25 8,988 9,044 8,928 8,954 8,978 8,982 4 6,555 6,483
Nov-25 8,992 9,042 8,928 8,954 8,976 8,984 8 1,922 5,084
Dec-25 9,002 9,042 8,928 8,954 8,980 8,990 10 184 509
Jan-26 9,016 9,056 8,932 8,966 8,986 8,994 8 211,935 245,848
Feb-26 9,004 9,004 8,912 8,932 8,944 8,968 24 22 955
Mar-26 8,962 8,962 8,874 8,894 8,910 8,920 10 12 273
Apr-26 8,882 8,882 8,810 8,810 8,882 8,858 -24 6 69
May-26 8,788 8,830 8,730 8,762 8,780 8,782 2 10,724 28,849
Jun-26 8,714 8,714 8,672 8,698 8,708 8,694 -14 10 36
Jul-26 8,608 8,634 8,598 8,622 8,654 8,620 -34 17 51
Soybean Oil
Turnover: 838,877 lots, or 70.43 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 – – – 8,514 8,514 8,514 0 0 611
Sep-25 8,420 8,486 8,366 8,406 8,360 8,426 66 388,658 408,811
Nov-25 8,420 8,484 8,368 8,402 8,366 8,430 64 7,527 13,763
Dec-25 8,426 8,488 8,372 8,408 8,370 8,430 60 1,188 3,037
Jan-26 8,396 8,466 8,340 8,378 8,334 8,404 70 403,098 595,690
Mar-26 8,294 8,326 8,216 8,250 8,242 8,278 36 123 1,663
May-26 7,974 8,024 7,920 7,962 7,944 7,970 26 38,191 89,733
Jul-26 7,970 8,000 7,900 7,932 7,922 7,948 26 92 202
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