Grains Report 09/30/2026

DJ USDA Report: Recap for U.S. Grain Stocks, Small Grains
The following table of analysts’ estimates is provided as a service to The Wall Street Journal subscribers in conjunction with the U.S. Department of Agriculture’s Grain Stocks and Small Grains reports scheduled for release at noon ET on Wednesday.
U.S. Stockpiles on Sept. 1, 2026 (million bushels) USDA USDA
Average Range June 2026 Sept. 2025
Corn 1,924 1,860-2,005 5,295 1,551
Soybeans 323 305-335 1,061 325
Wheat 1,849 1,790-1,955 920 2,134
***
2026 Wheat Production
USDA USDA
Average Range August 2025
All Wheat 1,527 1,498-1,543 1,531 1,985
Winter Wheat 987 965-1,003 990 1,402
Hard Red Winter 462 455-475 463 804
Soft Red Winter 287 281-290 287 353
White Winter 238 228-242 240 244
Other Spring 473 463-490 474 497
Durum 66 63-70 66 86

DJ CBOT Delivery Intentions: Totals – Sep 30
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL October Oct 01, 2026 1 Jun 24, 2026
SOYBEAN OIL October Oct 01, 2026 10 Sep 02, 2026

WHEAT:
General Comments: Wheat was lower in both markets yesterday on follow through selling tied to no important news from the US-China summit wrapped and as the Ukraine-Russia war continues and threatens any exports from the region. Both sides have reported an export pace more than 50% less than a year ago. Some selling was noted before the small grains production report due today. The US Winter Wheat planting is 27% complete. Conditions are mixed in the US Midwest. 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 get big rains in southern areas.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to down. Support is at 677, 665, and 645 December, with resistance at 730, 736, and 742 December. Trends in Kansas City are mixed to down. Support is at 730, 712, and 693 December, with resistance at 800, 807, and 819 December. Trends in Minneapolis are not available

RICE:
General Comments Rice closed lower again yesterday. Brazil prices are strong on ideas of short production and El Nino fears for production on the next crop. Harvest is active in most states and is 80% 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 turning down on the daily charts and are up on the weekly charts,
Overnight News:
Chart Analysis: Trends are up. Support is at 1614, 1565, and 1550 November and resistance is at 1670, 1699, and 1712 November.

CORN AND OATS
General Comments: Corn was a little lower yesterday on selling at the end of the US-China summit and despite reports that China had agreed to lower the tariffs on US ag imports to most favored nation status. There is moderating weather in the western and southern Midwest with a lot o Rain forecast for the west this week. Ukraine and Russia are back at war again and shipping is very limited in both countries. It should be cooler with some wet weather in the Midwest this week. The crop conditions were steady last week and below aa year ago. Progress is about normal and the harvest is now 18% complete. Anecdotal report indicate that the harvest has started in the southern Midwest and could get started in central areas later this week. Temperatures in the Midwest should be cooler this week amid mostly dry weather. Big rains are likely in the south. Oats were about unchanged. The harvest is complete.
Overnight News:
Chart Analysis: Trends in Corn are mixed . Support is at 515, 510, and 497 December, and resistance is at 549, 554, and 560 December. Trends in Oats are mixed to up. Support is at 406, 403, and 392 December, and resistance is at 426, 432, and 438 December.

SOYBEANS
General Comments: Soybeans and the products were higher yesterday. China is expected to buy more cargoes of US Soybeans before the US-China summit meetings in the coming weeks but the tariffs will remain high. The harvest is now 17% complete. Rain is expected this week in the south and cool and wet weather continues in the north. Condition is below a year ago and slightly improved from the previous week. Cooler temperatures and wet weather are expected for the next week in the Midwest. Big rains are likely in the south. There is some concern that El Nono could affect South American Soybeans production this year.
Overnight News: Unknown desatinations bought 105,000 tons of US Soybeans.
Analysis: Trends in Soybeans are mixed. Support is at 1279, 1256, and 1244 November, and resistance is at 1335, 1348, and 1360 September. Trends in Soybean Meal are sown. Support is at 351.00, 345.00, and 343.00 December, and resistance is at 368.00, 374.00,and 377.00 December. Trends in Soybean Oil are mixed to up. Support is at 6660, 6600, and 6470 December, with resistance at 6920, 76960, and 7070 December.

PALM OIL AND CANOLA
General Comments: Palm Oil was lower today on weakness in export demand. Daily chart trends are down. Canola was lower Friday and trends are mixed on the daily charts and up on the weekly charts.
Overnight News
Chart Analysis: Trends in Canola are mixed. Support is at 805.00, 793.00, and 782.00 November, with resistance at 844.00, 856.00, and 868.00 November. Trends in Palm Oil are down. Support is at 4600, 4560, and 4540 December, with resistance at 4800, 4890, and 4960 December.

DJ Malaysia Sept. 1-30 Palm Oil Exports Fell 29% on Month to 950,957 Tons, AmSpec Says
By Ying Xian Wong
Malaysia’s palm oil exports for Sept. 1-30 are estimated to have declined 29% from the previous month to 950,957 metric tons, cargo surveyor AmSpec Agri Malaysia said Wednesday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
Sept. 1-30 Aug. 1-31
RBD Palm Olein 245,363 208,473
RBD Palm Oil 104,469 139,574
RBD Palm Stearin 75,723 132,470
Crude Palm Oil 274,132 309,071
Total* 950,957 1,335,281
*Palm oil product volumes don’t add up to total as some products aren’t included.

DJ Malaysian PM Cash Market Prices for Palm Oil – Sept 30
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
Oct 1140.00 +05.00 Unquoted – –
Nov 1152.50 -02.50 Unquoted – –
Dec 1172.50 -02.50 Unquoted – –
Jan/Feb/Mar 1222.50 +05.00 Unquoted – –
Apr/May/Jun 1275.00 +07.50 Unquoted – –
Jul/Aug/Sep 1265.00 +12.50 Unquoted – =-
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Oct 1145.00 +05.00 Unquoted – –
Nov 1157.50 -02.50 Unquoted – –
Dec 1177.50 -02.50 Unquoted – –
Jan/Feb/Mar 1227.50 +05.00 Unquoted – –
Apr/May/Jun 1280.00 +07.50 Unquoted – –
Jul/Aug/Sep 1270.00 +12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Oct 1105.00 +05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Oct 1055.00 +02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Oct 4,500.00 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Oct 400.00 -08.00 Unquoted – –
($1=MYR4.078)

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