Grains Report 08/31/2026

DJ CBOT Delivery Intentions: Totals – Aug 31
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL September Sep 01, 2026 261 Jul 31, 2026
SOYBEAN OIL September Sep 01, 2026 800 Aug 19, 2026
ROUGH RICE September Sep 01, 2026 625 Aug 19, 2026
CORN September Sep 01, 2026 90 Jun 29, 2026
KC HRW WHEAT September Sep 01, 2026 143 Aug 27, 2026
OATS September Sep 01, 2026 83 Aug 28, 2026
WHEAT September Sep 01, 2026 9 Jun 03, 2026

WHEAT:
General Comments: Wheat was sharply higher in both markets last week and made new highs for the move as the Ukraine-Russia war continues and threatens any exports from the region. The president of Ukraine has said that his country and Russia would sit down soon to try to find a way for grains exports to resume from both countries, but Russia has so far rejected the idea Ukraine has hit infrastructure in Russia again by hitting a space facility and Russia will hit back. The Winter Wheat harvest is almost over. Spring Wheat is being harvested and is rated 51% good to excellent in reports released a week ago excellent. Conditions are mixed 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.
Overnight News:
Chart Analysis: Trends in Chicago are up. Support is at 728, 706, and 685 December, with resistance at 796, 808, and 820 December. Trends in Kansas City are up. Support is at 793, 743, and 747 December, with resistance at 856, 868, and 880 December. Trends in Minneapolis are not available

RICE:
General Comments Rice closed higher last week and near the highs for the move on reports of a very weak Indian monsoon that is threatening ag production including Rice. Brazil prices are strong on ideas of short production and El Nino fears for production on the next crop. Condition in the US was little changed from the previous week. Harvest is active in most states and is 27% complete. Demand remains moderate to poor for US Rice and was moderate last week. El Nino is threatening production in Asia and Indian prices remain high and are going higher, Trends are up on the daily charts and are up on the weekly charts,
Overnight News:
Chart Analysis: Trends are up. Support is at 1445, 1402, and 1392 November and resistance is at 1516, 1528, and 1540 November.

CORN AND OATS
General Comments: Corn was higher last week after a strong rally seen in response to the results of the Pro Farmer tour and ideas of more potential losses from stressful weather around the world but especially in Europe and Asia. Pro Farmer estimated the US yield at 173.2 bu/acre and total production at 15.344 billion bushels. The estimate is the lowest heard by us so far this year and well below the August estimates from USDA. There is still too much hot and dry weather in the western and southern Midwest but moderating conditions in Europe. Ukraine and Russia are back at war again and shipping is very limited in both countries. It should be cooler with drier weather in the Midwest this week. The crop conditions are lower than last week and below aa year ago. Maturity is starting and progress is ahead of normal with maturity under way. Temperatures in the Midwest should be cooler this week. Oats were higher.
Overnight News:
Chart Analysis: Trends in Corn are mixed . Support is at 492, 486, and 478 September, and resistance is at 516, 524, and 530 September. Trends in Oats are mixed. Support is at 319, 312, and 307 September, and resistance is at 349, 357, and 364 September.

SOYBEANS
General Comments: Soybeans and the products were higher last week in part on the Pro Farmer estimates and in part on renewed buying from China and other countries and a decision by Trump to keep the worst of the tariffs from China ahead of the summit. Pro Farmer estimated the US yield at 53.3 bu/acre and the total US production at 4.572 billion bushels. Both estimate are above the USDA August estimates. It is still mostly hot and dry in the southern and western Midwest. Leaves are starting to drop according to USDA this week and reports of good conditions continue. Condition is below a year ago and unchanged from last week. Cooler temperatures and drier weather in northern areas are expected for the next week in the Midwest. Southern areas should stay hot and dry
Overnight News: Unknown destinations bought 159,00o0 tons of US Soybeans.
Analysis: Trends in Soybeans are up. Support is at 1272, 1251, and 1239 November, and resistance is at 1292, 1304, and 1316 September. Trends in Soybean Meal are up. Support is at 333.00, 327.00, and 323.00 October, and resistance is at 346.00, 352.00,and 360.00 October. Trends in Soybean Oil are mixed to up. Support is at 6780, 6630, and 6570 October, with resistance at 7070, 7170, and 7250 October.

PALM OIL AND CANOLA
General Comments: Palm Oil was lower last week and were closed today. Canola was higher.
Overnight News
Chart Analysis: Trends in Canola are mixed to up. Support is at 769.00, 754.00, and 749.00 November, with resistance at 826.00, 832.00, and 844.00 November. Trends in Palm Oil are mixed to up. Support is at 4800, 4750, and 4700 November, with resistance at 4960, 5030, and 5090 November.

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