Grains Report 08/13/2026

DJ USDA Supply/Demand: Crop Summary – Aug 12
U.S. ending stocks in million bushels, except soyoil in million pounds,
cotton in million (480 pound) bales and rice in million cwt. Exports and
Production in million metric tons except cotton in million (480 pound) bales.
Projections based on trends and analysts’ judgments, not survey
date. Source: USDA’s World Agricultural Outlook Board.
======U.S.====== ================WORLD=======================
Ending Stocks Exports Production
26/27 25/26 24/25: 26/27 25/26 24/25: 26/27 25/26 24/25
Soybeans 320.0 325.0 325.0:190.41 187.19 184.33:442.25 429.46 428.11
Brazil na na na:118.00 115.00 103.14:186.00 180.50 172.50
Argentina na na na: 6.45 9.00 7.87: 50.00 49.50 51.11
China na na na: 0.10 0.13 0.07: 21.00 20.90 20.65
Soyoil 1,877 1,837 1,747: 14.64 14.69 15.26: 75.03 72.66 70.07
Corn 1,653 1,945 1,551:210.48 220.73 187.58: 1,299 1,330 1,234
China na na na: 0.02 0.02 0.00:307.00 301.24 294.92
Argentina na na na: 38.00 45.00 29.07: 55.00 63.00 49.00
S.Africa na na na: 2.20 3.30 2.05: 16.50 18.00 17.27
Cotton(a) 4.00 4.20 4.00: 43.82 45.56 42.43:117.63 121.97 119.53
All Wheat 717 920 855:212.71 227.40 210.54:819.30 843.35 799.10
China na na na: 1.00 1.10 1.02:141.00 140.07 140.10
European
Union na na na: 31.00 31.50 27.92:134.20 145.11 121.06
Canada na na na: 28.50 29.60 29.35: 35.00 39.96 35.94
Argentina na na na: 15.00 19.10 13.31: 21.00 27.89 18.51
Australia na na na: 22.00 24.50 23.65: 28.00 35.99 34.11
Russia na na na: 46.00 48.00 43.00: 88.50 90.30 81.60
Ukraine na na na: 13.50 14.10 15.75: 25.40 24.10 23.40
Sorghum 23.0 37.0 40.0: na na na: na na na
Barley 60.0 66.0 69.0: na na na: na na na
Oats 32.0 32.0 28.0: na na na: na na na
Rice 36.0 53.8 53.9: 62.78 60.32 61.46:537.27 545.51 542.30

DJ USDA Report: Summary for U.S. Agriculture Supply, Demand Report
WASHINGTON–The following are key numbers from USDA’s crop report
and how the government’s estimates compared to analysts’ forecasts
in a Wall Street Journal survey.
U.S. 2026 Production, Yield (million bushels, bushels per acre)
Wednesday’s
Estimate Average Range USDA July
Corn Production 16,013.0 15,944 15,780-16,160 16,000
Soybean Production 4,519.0 4,469 4,389-4,523 4,475
Wednesday’s
Estimate Average Range USDA July
Corn Yield 180.7 182.5 180.5-184.8 183.0
Soybean Yield 52.7 52.9 52.0-53.5 53.0
***
U.S. Stockpiles (million bushels)
2025-26
Wednesday’s
Estimate Average Range USDA July
Corn 1,945.0 2,010 1,960-2,136 2,020
Soybeans 325.0 324 303- 340 330
Wheat 920.0 921 920- 935 920
2026-27
Wednesday’s
Estimate Average Range USDA July
Corn 1,653.0 1,730 1,600-1,986 1,790
Soybeans 320.0 302 270- 358 310
Wheat 717.0 718 692- 766 722
***
World Stockpiles (million metric tons)
2025-26
Wednesday’s
Estimate Average Range USDA July
Corn 298.8 298.7 296.4-304.0 298.7
Soybeans 125.1 125.6 124.7-127.5 125.3
Wheat 280.2 286.0 279.0-290.0 279.0
2026-27
Wednesday’s
Estimate Average Range USDA July
Corn 274.7 273.4 271.0-276.1 275.3
Soybeans 124.2 124.4 122.5-125.5 124.2
Wheat 273.3 271.9 270.0-274.1 272.8
***
2026-27 Wheat Production (million bushels)
Wednesday’s
Estimate Average Range USDA July
All Wheat 1,531 1,527 1,498-1,566 1,536
Winter Wheat 990 986 965-1,007 990
Hard Red Winter 463 468 456-480 471
Soft Red Winter 287 286 281-295 287
White Winter 240 231 228-235 232
Other Spring 474 470 445-499 475
Durum 66 70 65-71 71

DJ U.S. Export Sales: Weekly Sales Totals-Aug 13
For the week ended Aug 6, 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 2026-2027 marketing
year, which began Aug 1, while “last year” is 2025-2026.
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 255.9 0.0 7473.1 11005.2 3990.6 26.9
hrw 88.6 0.0 1791.8 4415.7 833.8 0.0
srw 36.9 0.0 1159.2 1638.3 541.6 0.0
hrs 56.5 0.0 2227.4 2776.9 1290.8 0.0
white 72.3 0.0 2082.6 2004.9 1219.2 26.9
durum 1.5 0.0 212.0 169.5 105.2 0.0
corn 410.7 924.5 87503.1 70532.6 7437.0 10575.0
soybeans 75.1 1759.9 41789.7 51063.6 2203.0 10132.7
soymeal 69.4 149.0 17775.0 15551.7 2758.8 1716.5
soyoil -6.0 4.4 372.9 1089.1 17.5 4.9
upland cotton 1683.9-a 905.0 11977.4 11789.6 778.9 3885.9
pima cotton 97.6-b 50.6 495.5 466.4 47.0 154.3
sorghum 3.3 0.0 5076.1 1796.1 108.4 0.0
barley 0.0 0.0 44.6 49.5 34.7 0.0
rice 223.1-c 152.2 2611.4 3015.8 70.9 537.3
-a: Includes new sales activity for Aug 1-6 which resulted
in a net increase of 905.0 thousand metric tons. Also includes
778.9 thousand metric tons of undelivered sales carried over from
2025-2026.
-b: Includes new sales activity for Aug 1-6 which
resulted in a net increase of 50.6 thousand metric tons. Also includes
47.0 thousand metric tons of undelivered sales carried over from
2025-2026.
-c: Includes new sales activity for Aug 1-6 which
resulted in a net increase of 152.2 thousand metric tons. Also includes
70.9 thousand metric tons of undelivered sales carried over from
2025-2026.

DJ CBOT Delivery Intentions: Totals – Aug 13
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL August Aug 14, 2026 2 Aug 10, 2026
SOYBEAN OIL August Aug 14, 2026 91 Aug 12, 2026
SOYBEAN August Aug 14, 2026 26 Aug 12, 2026

WHEAT:
General Comments: Wheat was higher yesterday on more reports of more war between Ukraine and Russia as some profit taking developed before the USDA reports that will be released later today. Ukraine bombed Russian ports overnight using drones in a new escalation in the war. The price action was also tied to reports of reduced exports due to increased tensions in the Black Sea with Ukrainian bombing keeping Russia unable to ship anything through the Azov Sea and world weather. The harvest has been interrupted by too much rain in Texas and harvest yield reports remain low The crop harvest is over 81% complete. Spring Wheat is being harvested and is rated 51% good to excellent. The harvest is underway. Conditions are good in the US Midwest, but Europe has been too hot. The weather is now featuring scattered showers for parts of the Midwest along with moderate temperatures after a got week last week. The Great Plains should stay hot and dry. USDA reduced production slightly to 1.531 billion bu and left total demand unchanged at 1.874 billion bu for a cut in ending stocks at 717 billion bushels.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 626, 620, and 614 September, with resistance at 658, 670, and 686 September. Trends in Kansas City are mixed. Support is at 691, 679, and 659 September, with resistance at 755, 770, and 79 September. Trends in Minneapolis are not available

RICE:
General Comments Rice closed near unchanged yesterday on sone long liquidation in part on harvest pressure and selling in response to the USDA reports. USDA increased harvested area and production. Demand was also increased but ending stocks were still higher at 36.0 million cwt. Long grain ending stocks were also higher at 20.3 million cwt, from 17.7 million before. USDA said that Long Grain Production was estimated at 106.7 million cwt and demand was estimated at 167 cwt. Brazil prices are also strong on ideas of short production and El Nino fears for production on the next crop. Condition was little changed from the previous week Harvest is active in most states. Demand remains moderate to poor for US Rice and was moderate to poor last week.
Overnight News:
Chart Analysis: Trends are mixed to up. Support is at 1340, 1393, and 1292 September and resistance is at 1444, 1456, and 1468 September.

CORN AND OATS
General Comments: Corn was higher yesterday. USDA raised harvested area to 88.6 million acres from 87.4 million previously. Yield was cut to 180.7 bu/acre from 184 bu/scre. Production was estimated at 16.013 billion bushels from 16.000 billion previously. Domestic demand was left unchanged at 13.055 billion bushels but export demand was increased to 3.275 billion bushels from 3.2 billion before. Ending stocks were cut to 1.653 billion bushels from 1.7 billion before. Selling was see based on reports of more big rains in much of the Midwest. Northwest areas did especially benefit, and central areas of the Midwest were helped as the coverage area expanded. There is still too much hot and dry weather in the western and southern Midwest but moderating conditions in Europe The export sales report showed that demand was at the lower end of expectations. Ukraine and Russia are back at war again and shipping is very limited in both countries. It should be warm with showers in the northern Midwest this week but other areas should stay mostly dry. The crop conditions are unchanged from last week and below aa year ago. Dent is starting and progress is ahead of normal. Temperatures in the Midwest should be cooler this week. Oats were lower yesterday. Production and demand were increased by USDA yesterday to leave ending stocks unchanged.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 435, 427, and 421 September, and resistance is at 472, 478, and 484 September. Trends in Oats are down. Support is at 307, 300, and 294 September, and resistance is at 333, 349, and 347 September.

SOYBEANS
General Comments: Soybeans and the products were higher yesterday on reports of more Chinese demand and because of reports for rain in the northern half of the Midwest and into central areas. USDA said that harvested area increased to 85.8 million acres from 84.4 million before. Yield was estimated at 52.7 bu/acre from 53 bu /acre before. The crush was increased by 30 million bu to 2.780 billion bushels and export demand was left unchanged. Ending stocks were estimated at 320 million bushels from 310 million before. Northwest areas could especially benefit. It is still mostly hot and dry in the southern Midwest. Rapid blooming and setting pods progress was shown by USDA this week and reports of good conditions continue. Condition is slightly lower than last week and below a year ago. Cooler temperatures and wet weather in northern areas are expected for the next week in the Midwest. Southern areas should stay hot and dry
Overnight News:
Analysis: Trends in Soybeans are down. Support is at 1140, 1122 and 1110 September, and resistance is at 1197, 1210, and 1225 September. Trends in Soybean Meal are down. Support is at 305.00, 302.00, and 299.00 September, and resistance is at 320.00, 323.00,and 328.00 September. Trends in Soybean Oil are mixed. Support is at 6660, 6540, and 6440 September, with resistance at 7110, 7260, and 7290 September.

PALM OIL AND CANOLA
General Comments: Palm Oil was higher again today as ideas of strong demand continue. Canola was lower yesterday.
Overnight News
Chart Analysis: Trends in Canola are mixed. Support is at 750.00, 743.00, and 729.00 November, with resistance at 780.00, 800.00, and 815.00 November. Trends in Palm Oil are mixed. Support is at 4600, 4530, and 4400 October, with resistance at 4740, 4780, and 4820 October.

DJ Malaysian PM Cash Market Prices for Palm Oil – Aug 13
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 1142.50 00.00 Unquoted – –
Sep 1160.00 00.00 Unquoted – –
Oct/Nov/Dec 1197.50 +07.50 Unquoted – –
Jan/Feb/Mar 1232.50 +07.50 Unquoted – –
Apr/May/June 1235.00 +07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1147.50 00.00 Unquoted – –
Sep 1165.00 00.00 Unquoted – –
Oct/Nov/Dec 1202.50 +07.50 Unquoted – –
Jan/Feb/Mar 1237.50 +07.50 Unquoted – –
Apr/May/Jun 1240.00 +07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1110.00 00.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 1065.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 4,530.00 +10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 451.00 +02.00 Unquoted – –
($1=MYR4.085)

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