Grains Report 09/02/2026

DJ CBOT Delivery Intentions: Totals – Sep 2
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN OIL September Sep 03, 2026 256 Aug 21, 2026
ROUGH RICE September Sep 03, 2026 208 Sep 01, 2026
CORN September Sep 03, 2026 203 Aug 28, 2026
KC HRW WHEAT September Sep 03, 2026 29 Aug 28, 2026
OATS September Sep 03, 2026 2 Sep 01, 2026
WHEAT September Sep 03, 2026 9 Aug 20, 2026

WHEAT:
General Comments: Wheat was higher in both markets yesterday 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 has hit back. The Winter Wheat harvest is over. Spring Wheat is being harvested and is rated 51% good to 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 mixed to up. Support is at 728, 706, and 685 December, with resistance at 796, 808, and 820 December. Trends in Kansas City are mixed to up. Support is at 793, 743, and 747 December, with resistance at 857, 868, and 880 December. Trends in Minneapolis are not available

RICE:
General Comments Rice closed higher yesterday 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 improved from the previous week. Harvest is active in most states and is 32% 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 1541, 1510, and 1465 November and resistance is at 1592, 1604, and 1616 November.

CORN AND OATS
General Comments: Corn was higher yesterday 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. 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 unchanged last week and below aa year ago. Progress is ahead of normal with maturity under way. Temperatures in the Midwest should be cooler this week. Oats were lower.
Overnight News:
Chart Analysis: Trends in Corn are mixed . Support is at 521, 513, and 497 December, and resistance is at 548, 554, and 560 December. Trends in Oats are mixed. Support is at 360, 352, and 347 December, and resistance is at 396, 408, and 420 September.

SOYBEANS
General Comments: Soybeans and the products were higher yesterday 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. The EPA also released new bio fuels wavers and the results were considered bullish. It is still mostly hot and dry in the southern and western Midwest. Leaves are starting to drop according to USDA this week. Condition is below a year ago and 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: China bought 202,000 tons of US Soybeans.
Analysis: Trends in Soybeans are up. Support is at 1272, 1251, and 1239 November, and resistance is at 1328, 1340, and 1352 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 7370, 7470, and 7570 October.

PALM OIL AND CANOLA
General Comments: Palm Oil was lower today on price action in Chicago. Canola was higher yesterday.
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 844.00, 856.00, and 868.00 November. Trends in Palm Oil are mixed to up. Support is at 4900, 4850, and 4800 November, with resistance at 5030, 5090, and 5150 November.

DJ Malaysian PM Cash Market Prices for Palm Oil – Sep 2
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, 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 1200.00 -15.00 Unquoted – –
Oct/Nov/Dec 1247.50 -07.50 Unquoted – –
Jan/Feb/Mar 1307.50 -02.50 Unquoted – –
Apr/May/June 1322.50 00.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 1205.00 -15.00 Unquoted – –
Oct/Nov/Dec 1252.50 -07.50 Unquoted – –
Jan/Feb/Mar 1312.50 -02.50 Unquoted – –
Apr/May/Jun 1327.50 00.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 1152.50 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sep 1102.50 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 4,670.00 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 492.00 00.00 Unquoted – –
($1=MYR4.0435)

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