Grains Report 08/29/2025

DJ CBOT Delivery Intentions: Totals – Aug 29
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL September Sep 02, 2025 21 Jul 31, 2025
SOYBEAN OIL September Sep 02, 2025 7 Jul 30, 2025
ROUGH RICE September Sep 02, 2025 345 Aug 27, 2025
HARD RED SPRING WHEAT FUT September Sep 02, 2025 181 Aug 28, 2025
KC HRW WHEAT September Sep 02, 2025 328 Aug 27, 2025
SOYBEAN September Sep 02, 2025 3 Jul 07, 2025

]
WHEAT
General Comments: Wheat was higher yesterday as the weekly export sale report was moderately strong but found some selling in response to word of lower prices being paid in Russia. The Spring Wheat harvest is active and the Winter Wheat harvest is done. 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. 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. Reports from Russia indicate that later weather has improved and that somewhat higher yields than were forecast earlier are now possible. Southern hemisphere crops appear to be good.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 520, 517 and 511 December, with resistance at 535, 543, and 553 December. Trends in Kansas City are mixed to down. Support is at 507, 501, and 495 December, with resistance at 523, 529, and 535 December. Trends in Minneapolis are not available.

RICE:
General Comments Rice was slightly lower yesterday but recovered from early selling as the harvest is active in Texas and Louisiana. Chart trends are still mostly down on the 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. Texas reports average to below average field and milling yields. 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. Crop condition slipped slightly in the USDA reports released on Monday.
Overnight News:
Chart Analysis: Trends are mixed to down. Support is at 1172, 1160, and 1148 November and resistance is at 1206, 1228, and 1240 November.

CORN AND OATS
General Comments: Corn was lower on ideas that supplies will be more than ample for the demand. There was speculative selling on widespread record crop production predictions based on additional forecasts for improving weather for the Midwest. Temperatures should average below normal this week and it should be mostly dry. Most of the Midwest has seen adequate or greater precipitation and production ideas are high. Demand for Corn in world markets remains strong. Oats were mostly higher, but September closed mostly lower.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 404, 401, and 398 December, and resistance is at 411, 416, and 423 December. Trends in Oats are mixed. Support is at 325, 319, and 313 December, and resistance is at 334, 338, and 344 December.

SOYBEANS
General Comments: Soybeans were slightly higher in response to a stronger than expected weekly export sales report, but continued to find some selling on ideas of strong yield potential from the current cool and dry weather seen in the Midwest. Both products were lower. China has not bought US Soybeans yet and traders are worried that demand for the new crop will be a lot less this year. Good growing conditions continue in the Midwest with cool and mostly dry weather in the forecast. Prices are still 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 mixed. Support is at 1040, 1031, and 1027 November, and resistance is at 1052, 1063, and 1074 November. Trends in Soybean Meal are down. Support is at 280.00, 278.00, and 274.00 October, and resistance is at 288.00, 290.00, and 293.00 October. Trends in Soybean Oil are mixed to down. Support is at 5160, 5110, and 5090 October, with resistance at 5340, 5390, and 5440 October.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher today. Demand for export has been strong to start the month. Futures were also higher today as the increase in ending stocks was not as much as anticipated. 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 higher along with the price action in Chicago. Trends are mixed 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 623.00, 602.00, and 596.00 November, with resistance at 652.00, 661.00, and 669.00 November. Trends in Palm Oil are mixed to up. Support is at 4410, 4340, and 4300 November, with resistance at 4530, 4590, and 4650 November.

DJ Malaysian PM Cash Market Prices for Palm Oil – Aug 29
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, 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
Sep 1077.50 -05.00 Unquoted – –
Oct/Nov/Dec 1080.00 -07.50 Unquoted – –
Jan/Feb/Mar 1090.00 -07.50 Unquoted – –
Apr/May/Jun 1072.50 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 1082.50 -05.00 Unquoted – –
Oct/Nov/Dec 1085.00 -07.50 Unquoted – –
Jan/Feb/Mar 1095.00 -07.50 Unquoted – –
Apr/May/Jun 1077.50 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 1050.00 -12.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sep 997.50 -10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 4,370.00 -20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 464.00 -01.00 Unquoted – –
($1=MYR4.223)

DJ China Dalian Grain Futures Closing Prices, Volume – Aug 29
Soybean No. 1
Turnover: 119,043 lots, or 4.69 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 4,106 4,107 4,005 4,080 4,087 4,069 -18 2,161 1,644
Nov-25 3,927 3,951 3,918 3,945 3,933 3,933 0 79,846 225,071
Jan-26 3,914 3,953 3,914 3,948 3,934 3,936 2 28,192 106,414
Mar-26 3,936 3,954 3,925 3,950 3,940 3,939 -1 4,928 30,788
May-26 3,975 3,997 3,970 3,995 3,982 3,984 2 1,280 6,149
Jul-26 3,984 4,003 3,975 3,999 3,990 3,992 2 2,636 5,236
Corn
Turnover: 710,652 lots, or 15.56 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 2,250 2,250 2,221 2,238 2,244 2,233 -11 18,328 35,288
Nov-25 2,189 2,197 2,179 2,191 2,178 2,187 9 505,054 983,279
Jan-26 2,184 2,187 2,174 2,180 2,177 2,181 4 149,636 411,851
Mar-26 2,202 2,204 2,191 2,198 2,195 2,198 3 17,685 137,492
May-26 2,248 2,255 2,239 2,250 2,243 2,247 4 11,290 68,945
Jul-26 2,262 2,268 2,252 2,261 2,256 2,260 4 8,659 15,631
Soymeal
Turnover: 1,357,859 lots, or 40.73 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 2,983 3,028 2,983 3,022 2,992 3,002 10 31,653 13,274
Nov-25 3,006 3,037 3,002 3,031 3,012 3,020 8 98,235 551,458
Dec-25 3,048 3,074 3,041 3,066 3,054 3,056 2 18,080 139,073
Jan-26 3,040 3,064 3,031 3,055 3,046 3,047 1 910,391 2,030,073
Mar-26 2,986 2,993 2,976 2,986 2,992 2,984 -8 52,803 363,866
May-26 2,815 2,827 2,800 2,820 2,821 2,811 -10 224,210 961,219
Jul-26 2,808 2,813 2,791 2,809 2,815 2,800 -15 16,443 124,680
Aug-26 2,933 2,941 2,920 2,939 2,945 2,927 -18 6,044 25,909
Palm Oil
Turnover: 801,238 lots, or 74.81 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 9,350 9,372 9,262 9,320 9,388 9,310 -78 14,238 2,286
Oct-25 9,388 9,416 9,242 9,272 9,466 9,320 -146 11,987 8,645
Nov-25 9,398 9,414 9,254 9,272 9,454 9,316 -138 5,239 8,469
Dec-25 9,418 9,424 9,270 9,296 9,466 9,330 -136 1,329 1,174
Jan-26 9,438 9,446 9,276 9,316 9,476 9,348 -128 733,188 478,726
Feb-26 9,402 9,402 9,246 9,260 9,410 9,310 -100 86 1,072
Mar-26 9,350 9,350 9,198 9,244 9,370 9,248 -122 127 382
Apr-26 9,266 9,266 9,168 9,168 9,304 9,208 -96 6 82
May-26 9,160 9,188 9,036 9,078 9,214 9,106 -108 34,991 68,124
Jun-26 9,026 9,032 8,930 8,956 9,116 9,004 -112 17 70
Jul-26 8,930 8,930 8,836 8,856 8,980 8,890 -90 21 146
Aug-26 8,870 8,878 8,860 8,860 8,900 8,870 -30 9 20
Soybean Oil
Turnover: 370,264 lots, or 30.85 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 8,460 8,464 8,388 8,398 8,452 8,414 -38 14,846 5,569
Nov-25 8,416 8,420 8,366 8,390 8,418 8,388 -30 6,562 15,765
Dec-25 8,438 8,440 8,386 8,408 8,442 8,410 -32 950 5,606
Jan-26 8,392 8,394 8,330 8,358 8,390 8,358 -32 309,414 649,889
Mar-26 8,338 8,338 8,284 8,290 8,342 8,304 -38 103 1,703
May-26 8,116 8,120 8,046 8,066 8,114 8,076 -38 38,256 197,360
Jul-26 8,072 8,076 8,012 8,026 8,068 8,036 -32 127 384
Aug-26 7,980 8,008 7,980 8,006 8,038 7,992 -46 6 21
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