Grains Report 10/30/2026

WHEAT:
General Comments: Wheat was higher in both markets yesterday on ideas that the market is near a low on the charts but as planting and emergence of Winter Wheat are ahead of normal with improved weather in the Great Plains. Both sides in the Russia-Ukraine war have reported an export pace more than 50% less than a year ago. The US Winter Wheat planting was 76% complete last week and Winter Wheat was 53% emerged. 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 scattered showers in all areas.
Overnight News:
Chart Analysis: Trends in Chicago are down. Support is at 591, 580, and 568 December, with resistance at 621, 645 and 662 December. Trends in Kansas City are down. Support is at 636, 628, and 616 December, with resistance at 676, 711, and 725 December. Trends in Minneapolis are not available

RICE:
General Comments Rice closed little changed yesterday as the overall supply scenario remains tight at home and around the world. Lula was elected president of Brazil over the weekend in a surprise that hurt the Real and grains prices in general. Damage to unharvested crops is reported from the hurricane and there are worries about El Nino hurting world production. Brazil prices are strong on ideas of short production and El Nino fears for production on the next crop. 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 mixed on the daily charts and are up on the weekly charts,
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1755, 1735, and 1710 January and resistance is at 1821, 1832, and 1844 January.

CORN AND OATS
General Comments: Corn was little changed yesterday on speculative bottom picking and some commercial buying against speculative and fund selling despite reports of good harvest progress amid warm and dry weather. Trends are mixed to down on the daily and weekly charts. There is moderating weather in the western and southern Midwest with mostly dry conditions. Harvest has been active in most areas of the Midwest with good but not great yields being reported. Ukraine and Russia are still at war and shipping is very limited in both countries. It should be cooler with drier weather in the Midwest this week. The crop conditions last week were slightly lower from the previous week and below aa year ago. Progress is below normal and the harvest is now 60% complete. Temperatures in the Midwest should be warmer this week amid mostly dry weather. Oats were lower and trends are down on the weekly charts.
Overnight News:
Chart Analysis: Trends in Corn are mixed to down . Support is at 448, 442, and 436 December, and resistance is at 470, 478, and 488 December. Trends in Oats are down. Support is at 341, 335, and 330 December, and resistance is at 370, 383, and 405 December.

SOYBEANS
General Comments: Soybeans and the products were lower again yesterday on great harvest progress and despite big buying from China. China is expected to buy more cargoes of US Soybeans in the coming weeks but the tariffs will remain high. Lula was elected president of Brazil over the weekend It was a surprise to the market and hurt the Real against the Dollar and Ag prices generally, especially those featuring selling from Brazil. The harvest was 79% complete last week. Cooler and dry weather is likely in the north.
Overnight News: Unknown destinations bought 132000 tons and 165150 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed to down. Support is at 1214, 1194, and 1181 January, and resistance is at 1250, 1262, and 1276 January. Trends in Soybean Meal are down. Support is at 326.00, 323.00, and 320.00 December, and resistance is at 353.00, 361.00,and 369.00 December. Trends in Soybean Oil are mixed to down. Support is at 6420, 6300, and 6180 December, with resistance at 6740, 6880, and 7010 December.

PALM OIL AND CANOLA
General Comments: Palm Oil was higher today on Crude Oil strength. Daily chart trends are turning down again and weekly trends are mixed to up. Canola was lower and trends are still down on the daily charts.
Overnight News
Chart Analysis: Trends in Canola are mixed. Support is at 775.00, 764.00, and 759.00 January, with resistance at 796.00, 818.00, and 829.00 January. Trends in Palm Oil are mixed to down. Support is at 4580, 4560, and 4500 January, with resistance at 4680, 4780, and 4850 January.

DJ Malaysian PM Cash Market Prices for Palm Oil – Oct 30
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, 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
Nov 1140.00 +20.00 Unquoted – –
Dec 1170.00 +20.00 Unquoted – –
Jan/Feb/Mar 1212.50 +20.00 Unquoted – –
Apr/May/Jun 1245.00 +15.00 Unquoted – –
Jul/Aug/Sep 1230.00 +12.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1145.00 +20.00 Unquoted – –
Dec 1175.00 +20.00 Unquoted – –
Jan/Feb/Mar 1217.50 +20.00 Unquoted – –
Apr/May/Jun 1250.00 +15.00 Unquoted – –
Jul/Aug/Sep 1235.00 +12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1097.50 +12.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 1035.00 +10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 4,460.00 +60.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 419.00 +13.00 Unquoted – –
($1=MYR4.055)

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