Grains Report 06/15/2026

WHEAT:
General Comments: Wheat closed higher in both markets last week as forecasts and reports for improving weather in Wheat areas continue. KC was the stronger market. The crop condition ratings are the lowest in over 30 years in HRW areas and have provided some support for prices. Crop conditions should start to show some improvement soon but were lower last week. The Winter Wheat harvest is more than 10% done. USDA showed deteriorating crop conditions this year as rains are now occurring in the central areas of the Great Plains and are forecast to continue. Spring Wheat progress is ahead of normal, and conditions are rated as better than the previous week. Conditions are good in the US Midwest and in much of Europe, but Russia has been too cols. The weather is now featuring mostly dry conditions for parts of the Midwest along with warming temperatures. The WASDE report showed less US production based on a cut in yields. The demand side was left unchanged and ending stocks were reduced to 744 million bushels. The average Farm price was also cut back to 6.00/bu in response to the current price action.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 576, 572, and 566 July, with resistance at 661, 679, and 688 July. Trends in Kansas City are mixed. Support is at 614, 608, and 602 July, with resistance at 688, 722, and 750 July. Trends in Minneapolis are not available.

COT — Supplemental Report – Option and Futures Combined Positions as of June 09, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-SRW – CHICAGO BOARD OF TRADE
CFTC Code #001602 Open Interest is 562,624
: Positions :
: 60,637 145,572 180,158 132,802 129,081 148,165 70,179 521,761 524,990: 40,863 37,634
: Changes from: June 2, 2026 (Change in open interest: -17,760) :
: -1,968 7,115 -15,385 17,397 -5,771 -14,370 79 -14,326 -13,962: -3,434 -3,798
: Percent of Open Interest Represented by Each Category of Trader :
: 10.8 25.9 32.0 23.6 22.9 26.3 12.5 92.7 93.3: 7.3 6.7
: Total Traders: 411 Number of Traders in Each Category :
: 117 107 127 101 102 47 27 337 299:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 09, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-HRW – CHICAGO BOARD OF TRADE
CFTC Code #001612 Open Interest is 324,328
: Positions :
: 42,724 75,611 93,211 73,586 112,242 91,787 21,094 301,308 302,157: 23,020 22,171
: Changes from: June 2, 2026 (Change in open interest: -22,026) :
: -3,515 6,976 -12,906 1,929 -11,697 -6,012 -1,415 -20,504 -19,042: -1,522 -2,984
: Percent of Open Interest Represented by Each Category of Trader :
: 13.2 23.3 28.7 22.7 34.6 28.3 6.5 92.9 93.2: 7.1 6.8
: Total Traders: 269 Number of Traders in Each Category :
: 58 64 85 79 90 34 17 218 216:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 9, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
WHEAT-HRSpring – MIAX FUTURES EXCHANGE (CONTRACTS OF 5,000 BUSHELS) :
CFTC Code #001626 Open Interest is 87,002 :
: Positions :
: 41,289 53,866 4,002 1,546 682 22,280 12,324 4,465 3,322 1,236 3,371 :
: Changes from: June 2, 2026 :
: 2,776 -10,510 269 1,084 -4 -4,522 3,878 689 -2,176 -285 -50 :
: Percent of Open Interest Represented by Each Category of Trader :
: 47.5 61.9 4.6 1.8 0.8 25.6 14.2 5.1 3.8 1.4 3.9 :
: Number of Traders in Each Category Total Traders: 122 :
: 59 46 5 . . 14 17 11 13 5 12 :
—————————————————————————————————————-

RICE:
General Comments Rice closed lower again last week on good weather in growing areas. The WASDE report showed an uptick in yields and production for long grain with all Rice left unchanged. Long grain demand was left unchanged and the ending stocks were a little higher. The average farm price was left unchanged at 12.00/cwt for long grain and 13.50 for all Rice. USDA said that Rice planted area would be about 12% less in the coming year. Emergence is ahead of average, and condition slipped a little last week. Demand remains moderate to poor for US Rice,
Overnight News:
Chart Analysis: Trends are down. Support is at 1188, 1176, and 1164 July and resistance is at 1277, 1301, and 1308 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 9, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
ROUGH RICE – CHICAGO BOARD OF TRADE (CONTRACTS OF 200,000 POUNDS) :
CFTC Code #039601 Open Interest is 14,053 :
: Positions :
: 3,708 6,032 596 0 0 2,703 2,502 215 1,987 1,836 2,108 :
: Changes from: June 2, 2026 :
: 132 -686 -86 0 0 3 162 58 -198 -136 -331 :
: Percent of Open Interest Represented by Each Category of Trader :
: 26.4 42.9 4.2 0.0 0.0 19.2 17.8 1.5 14.1 13.1 15.0 :
: Number of Traders in Each Category Total Traders: 88 :
: 15 20 . 0 0 14 10 6 22 9 13 :
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CORN AND OATS
General Comments: Corn was lower again last week on rains in the Midwest and despite a neutral WASDE report. The report showed a slight increase in beginning and ending stocks and no other changes. The crop conditions are strong in the Midwest and on news of lower petroleum prices because of the Iran war. Strong planting and emergence progress are reported in reports released by USDA last week
forecasts for good growing conditions continue in the Midwest. Planting has been very active in all of the Midwest and is now almost done. Emergence is about normal. Condition is rated to be very good and about the same as the previous week. It looks dry this week. Temperatures in the Midwest should be turn warmer for the next week. Conditions are called good in Argentina and big production is expected there. Oats were a little lower and trends are down on the weekly charts.
Overnight News:
Chart Analysis: Trends in Corn are mixed to down. Support is at 407, 404, and 401 July, and resistance is at 449, 452, and 455 July. Trends in Oats are mixed to down. Support is at 306, 301, and 295 July, and resistance is at 367, 377, and 387 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 09, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
CORN – CHICAGO BOARD OF TRADE
CFTC Code #002602 Open Interest is 2,566,213
: Positions :
: 224,452 318,438 863,240 779,754 998,315 503,470 146,607 2,370,917 2,326,600: 195,296 239,613
: Changes from: June 2, 2026 (Change in open interest: 111,409) :
: -16,489 80,824 68,417 100,176 10,311 -15,253 20,517 136,851 180,069: -25,442 -68,660
: Percent of Open Interest Represented by Each Category of Trader :
: 8.7 12.4 33.6 30.4 38.9 19.6 5.7 92.4 90.7: 7.6 9.3
: Total Traders: 933 Number of Traders in Each Category :
: 221 138 229 414 403 56 32 797 716:
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SOYBEANS
General Comments: Soybeans and Soybean Meal were lower and Soybean Oil was a little higher last week on reports of improved conditions in the Midwest. Rapid planting and emergence progress was shown by USDA this week and reports of good conditions continue. Condition is rated high by USDA in the latest reports, but down a stick from the previous week. The WASDE report showed no changes from last month. Futures were also lower on the lack of news on China. Cooler temperatures are expected for the next week in the Midwest. There is talk that more Soybeans could be planted as Corn planting is more expensive. The big South American harvests are also weighing on prices.
Overnight News:
Analysis: Trends in Soybeans are down. Support is at 1112, 1090, and 1072 July, and resistance is at 1157, 1173, and 1205 July. Trends in Soybean Meal are down. Support is at 301.00, 298.00, and 295.00 July, and resistance is at 326.00, 331.00,and 335.00 July. Trends in Soybean Oil are mixed to down. Support is at 7290, 7100, and 7020 July, with resistance at 7840, 7970, and 8080 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 09, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEANS – CHICAGO BOARD OF TRADE
CFTC Code #005602 Open Interest is 1,283,568
: Positions :
: 121,682 113,326 365,086 458,976 664,472 285,721 54,446 1,231,465 1,197,330: 52,103 86,238
: Changes from: June 2, 2026 (Change in open interest: -9,511) :
: -26,292 18,363 22,342 42,808 -27,853 -18,124 1,894 20,734 14,747: -30,246 -24,258
: Percent of Open Interest Represented by Each Category of Trader :
: 9.5 8.8 28.4 35.8 51.8 22.3 4.2 95.9 93.3: 4.1 6.7
: Total Traders: 644 Number of Traders in Each Category :
: 136 127 187 221 280 51 18 510 527:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 09, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN OIL – CHICAGO BOARD OF TRADE
CFTC Code #007601 Open Interest is 834,358
: Positions :
: 139,912 45,644 235,861 268,314 472,945 147,902 49,058 791,988 803,506: 42,370 30,851
: Changes from: June 2, 2026 (Change in open interest: -45,621) :
: -16,744 3,746 -8,144 -4,015 -30,011 -13,491 -2,379 -42,394 -36,789: -3,226 -8,832
: Percent of Open Interest Represented by Each Category of Trader :
: 16.8 5.5 28.3 32.2 56.7 17.7 5.9 94.9 96.3: 5.1 3.7
: Total Traders: 366 Number of Traders in Each Category :
: 108 68 113 99 114 44 24 306 275:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 09, 2026
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN MEAL – CHICAGO BOARD OF TRADE
CFTC Code #026603 Open Interest is 682,128
: Positions :
: 108,998 77,296 135,315 230,096 416,312 151,328 24,103 625,737 653,025: 56,391 29,103
: Changes from: June 2, 2026 (Change in open interest: -43,200) :
: -41,037 31,172 -22,405 31,236 -50,813 -9,439 5,403 -41,645 -36,644: -1,554 -6,556
: Percent of Open Interest Represented by Each Category of Trader :
: 16.0 11.3 19.8 33.7 61.0 22.2 3.5 91.7 95.7: 8.3 4.3
: Total Traders: 321 Number of Traders in Each Category :
: 74 61 86 121 114 38 15 280 236:
——————————————————————————————————————-

PALM OIL AND CANOLA
General Comments: Palm Oil was lower last week along on weakness in petroleum markets and was lower today as supplies remain ample. Canola was a little higher last week as conditions remain hot and dry in the Prairies.
Overnight News
Chart Analysis: Trends in Canola are mixed. Support is at 745.00, 736.00, and 729.00 July, with resistance at 796.00, 802.00, and 808.00 July. Trends in Palm Oil are mixed. Support is at 4390, 4320, and 4270 August, with resistance at 4580, 4680, and 4730 August.

DJ Malaysia June 1-15 Palm Oil Exports Rose 23.8% on Month to 621,704 Tons, AmSpec Says
By Ying Xian Wong
Malaysia’s palm oil exports during the June 1-15 period are estimated up 23.8% on month at 621,704 metric tons, cargo surveyor AmSpec Agri Malaysia said Monday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
June 1-15 May 1-15
RBD Palm Olein 105,995 115,960
RBD Palm Oil 45,585 51,025
RBD Palm Stearin 51,990 43,200
Crude Palm Oil 193,273 98,603
Total* 621,704 502,228
*Palm oil product volumes don’t add up to total as some products aren’t included.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 9, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
USD Malaysian Crude Palm Oil C – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 25 METRIC TONS) :
CFTC Code #037021 Open Interest is 44,308 :
: Positions :
: 39,248 31,924 1,220 6,990 1,450 280 3,304 0 1,650 280 360 :
: Changes from: June 2, 2026 :
: 2,487 2,551 0 -864 644 0 1,020 -400 240 40 120 :
: Percent of Open Interest Represented by Each Category of Trader :
: 88.6 72.1 2.8 15.8 3.3 0.6 7.5 0.0 3.7 0.6 0.8 :
: Number of Traders in Each Category Total Traders: 29 :
: 11 10 . 5 . . . 0 4 . . :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 9, 2026
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
CANOLA – ICE FUTURES U.S. (20 Metric Tonnes) :
CFTC Code #135731 Open Interest is 363,378 :
: Positions :
: 180,861 215,353 11,140 18,362 4,624 103,728 41,509 25,352 9,019 27,696 26,320 :
: Changes from: June 2, 2026 :
: -4,706 -3,447 1,425 722 393 -1,994 -2,577 -3,415 -3,246 -4,977 510 :
: Percent of Open Interest Represented by Each Category of Trader :
: 49.8 59.3 3.1 5.1 1.3 28.5 11.4 7.0 2.5 7.6 7.2 :
: Number of Traders in Each Category Total Traders: 485 :
: 61 138 7 4 7 69 33 27 48 165 67 :
—————————————————————————————————————-

DJ Malaysian PM Cash Market Prices for Palm Oil – June 15
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, 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
Jun 1130.00 -10.00 Unquoted – –
Jul/Aug/Sep 1132.50 -12.50 Unquoted – –
Oct/Nov/Dec 1157.50 -12.50 Unquoted – –
Jan/Feb/Mar 1172.50 -10.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jun 1135.00 -10.00 Unquoted – –
Jul/Aug/Sep 1137.50 -12.50 Unquoted – –
Oct/Nov/Dec 1162.50 -12.50 Unquoted – –
Jan/Feb/Mar 1177.50 -10.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jun 1102.50 -07.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jun 1035.00 +05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jun 4,430.00 -40.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jun 428.00 00.00 Unquoted – –
($1=MYR4.048)

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