Grains Report 02/26/2026

DJ U.S. Export Sales: Weekly Sales Totals-Feb 26
For the week ended Feb 19, 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, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 243.0 107.0 22841.2 19926.1 4878.0 318.1
hrw 43.3 34.4 8065.3 4794.6 1435.9 92.3
srw 61.1 10.0 3058.1 2988.1 676.9 87.4
hrs 53.1 16.7 5931.4 6405.8 1409.6 38.2
white 63.6 46.0 5211.8 5410.9 1181.4 82.3
durum 21.8 0.0 574.6 326.5 174.2 18.0
corn 685.8 11.7 62959.9 48647.9 24631.8 1018.1
soybeans 407.1 0.0 35650.7 43894.0 10616.7 199.5
soymeal 269.6 30.0 11751.4 10573.2 4766.4 90.8
soyoil 1.5 -4.0 351.1 709.1 120.5 0.3
upland cotton 253.2 29.7 8753.8 9610.2 4377.0 776.6
pima cotton 15.2 0.0 288.3 312.4 98.0 0.5
sorghum 9.4 0.0 4021.5 1220.9 2137.9 0.0
barley 0.1 10.5 73.2 39.1 32.0 13.6
rice 54.1 0.0 1900.3 2381.0 643.7 0.0

WHEAT
General Comments: Wheat closed lower again yesterday on reports that Argentine Wheat could soon be sold into the US Southeast. US Wheat is rallied into the region while Argentine Wheat comes on ships at cheaper rates for the transport. There are higher prices paid in overseas markets and on drier weather in the Great Plains. The weather is now averaging below normal temperatures and some light precipitation is forecast for parts of the Great Plains and Midwest. Temperatures were cold enough a couple of weeks ago to promote Winterkill. Many parts of the Great Plains are too dry for best yield potential, but USDA has recently rated the crops in good condition. Russia has been cold as well, but no losses have been reported although some damage is possible.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up. Support is at 553, 549, and 535 March, with resistance at 577, 583, and 589 March. Trends in Kansas City are mixed to up. Support is at 542, 535, and 526 March, with resistance at 578, 584, and 590 March. Trends in Minneapolis are not available.

RICE:
General Comments Rice was higher yesterday but trends are still down. The market has fallen from 1134 May to the current low level of 980 May in just a few weeks. The weekly export sales report was considered positive but had no positive effect on prices. Traders anticipate less production this year in the US and around the world due to low prices. Asian Rice prices are under pressure now due to a weaker Indian Rupee that forced costs for Indian Rice lower. Trends are mixed as demand remains moderate for US Rice.
Overnight News:
Chart Analysis: Trends are down. Support is at 972, 964, and 958 March and resistance is at 1030, 1051, and 1063 March.

CORN AND OATS
General Comments: Corn was a little higher. Trends are still mixed. There are still excessive supplies as seen in the recent USDA reports after prices were trending higher on strong demand. Temperatures in the Midwest should average near to above normal this week. Conditions are called good in Argentina and big production is expected there. The Safrinha Corn crop in Brazil is getting planted behind the Soybeans harvest and progress is a little behind normal. Oats were higher and trends are up on the daily and weekly charts.
Overnight News: Japan bought !78,000 tons of US Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 424, 420, and 417 March, and resistance is at 434, 436, and 446 March. Trends in Oats are mixed. Support is at 306, 300, and 294 March, and resistance is at 328, 338, and 344 March.

SOYBEANS
General Comments: Soybeans and Soybean Meal were higher again on hopes for new Chinese buying yesterday as the big South American crops were being harvested. Soybean Oil was a little lower. South American sources said that the Brazil crops are now more than 30% harvested. There are still ideas of additional Chinese demand soon that were fueled by statements by President Trump that he and Xi had talked and that the president had pushed him for more Soybeans purchases as both sides work to reduce trade tensions between the countries. It will be up to the Chinese government to buy as US Soybeans are too high priced for commercial demand from commercial users in China and almost anywhere else. The tariff wars between the two countries add another layer of cost onto the Soybeans. Temperatures will average near to above normal in the Midwest this week.
Overnight News:
Analysis: Trends in Soybeans are mixed to up. Support is at 1122, 1116, and 1106 March, and resistance is at 1150, 1159, and 1172 March. Trends in Soybean Meal are mixed to up. Support is at 302.00, 297.00, and 289.00 March, and resistance is at 321.00, 325.00, and 336.00 March. Trends in Soybean Oil are mixed to up. Support is at 5810, 5760, and 5660 March, with resistance at 6040, 6100, and 6160 March.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were lower today on ideas of weak demand for Palm Oil. Ideas of increasing seasonal demand and ideas that Palm Oil is relatively cheap in the world market are still around. Demand ideas are in a state of flux right now with some looking for weaker demand and others looking for improved demand. Production is expected to drop in the short term. Canola was lower yesterday. The selling seen came ideas of big crops in South America.
Overnight News:
Chart Analysis: Trends in Canola are mixed to up. Support is at 667.00, 657.00, and 647.00 March, with resistance at 681.00, 686.00, and 692.00 March. Trends in Palm Oil are up. Support is at 3990, 3930, and 3870 May, with resistance at 4100, 4160, and 4200 May.

DJ Malaysian PM Cash Market Prices for Palm Oil – Feb. 26
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
Mar 1067.50 -10.00 Unquoted – –
Apr/May/Jun 1067.50 -10.00 Unquoted – –
Jul/Aug/Sep 1070.00 -12.50 Unquoted – –
Oct/Nov/Dec 1070.00 -12.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 1072.50 -10.00 Unquoted – –
Apr/May/Jun 1072.50 -10.00 Unquoted – –
Jul/Aug/Sep 1075.00 -12.50 Unquoted – –
Oct/Nov/Dec 1075.00 -12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 1037.50 -10.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Mar 1027.50 -10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 4,020.00 -40.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 427.00 -04.00 Unquoted – –
($1=MYR3.8855)

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