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WHEAT
General Comments: Wheat was mixed to a little higher on hopes for solid export sales from USDA and as the harvest of Winter Wheat is drawing to a close. The Winter Wheat harvest is almost over now and the Spring Wheat harvest is active. Rains have been good in the northern Great Plains but Canada has been a little too dry for best yield potential and the northern Plains had hot and dry areas earlier in the year. Canada could still produce an average to above average crop. Russia is still being watched for dry weather that has so far hurt yields and Ukraine is watched for the same reason and because of the war that could destroy some fields. Russian Black Sea prices have been firming as producers are not making sales and are looking for higher prices to offset yield losses. Southern hemisphere crops appear to be good.
Chart Analysis: Trends in Chicago are mixed. Support is at 495, 490 and 484 September, with resistance at 526, 532, and 541 September. Trends in Kansas City are mixed to down. Support is at 496, 492, and 486 September, with resistance at 549, 552, and 559 September. Trends in Minneapolis are not available.

RICE
General Comments Rice was lower yesterday on follow through selling as the harvest is active in /Texas and Louisiana. Chart trends are down on the charts and selling has been significant in the last couple of daysd. The cash market has been slow with low bids from buyers in domestic markets and average or less export demand. New crop harvesting has started in Louisiana with reports of good but not great yields and quality. There is more concern about the crops in Arkansas where it has turned very hot. Milling quality of the old crop Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters. Rice is heading in most growing areas now and harvest has started near the Gulf Coast.
Chart Analysis: Trends are down. Support is at 1640, 1152, and 1140 September and resistance is at 1281, 1298, and 1319 September.

CORN AND OATS
General Comments: Corn was higher on ideas that the Pro Farmer tour did not back up USDA yield projections, especially east of the Mississippi River. There still appeared to be speculative selling on widespread record crop production predictions based on additional forecasts for improving weather for the Midwest, but there was more short covering from speculators and commercial buying. Temperatures should average near normal this week and it should be mostly dry. Most of the Midwest has seen adequate or greater precipitation and production ideas are high. Demand for Corn in world markets remains strong. Oats were lower.
Overnight News: Spain bought 140,452 tons of US Corn. Costa Rica bought 119,769 tons of uS Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 363, 360, and 357 September, and resistance is at 389, 396, and 404 September. Trends in Oats are mixed. Support is at 321, 315, and 309 September, and resistance is at 333, 338, and 344 September.

SOYBEANS
General Comments: Soybeans and the products were higher. The buying appeared despite reports of strong yield potential from the Pro Farmer tour with both tour groups finding strong yield potential in the east and the west. The weekly export sales report was strong for new crop Soybeans sales but once again China did not appear as a buyer. Good growing conditions continue in the Midwest with cool and mostly dry weather in the forecast. Prices are still higher in Brazil, but China and other buyers are still buying there for political reasons. Export demand remains less for US Soybeans as China has been taking almost all the export from South America.
Analysis: Trends in Soybeans are mixed. Support is at 1004, 995, and 983 September, and resistance is at 1029, 1037, and 1050 September. Trends in Soybean Meal are mixed to up. Support is at 277.00, 271.00, and 267.00 September, and resistance is at 297.00, 301.00, and 307.00 September. Trends in Soybean Oil are mixed to down. Support is at 5030, 4940, and 4840 September, with resistance at 5250, 5390, and 5490 September.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher today in sympathy with the price action in Chicago Soybean Oil. Demand for export has been strong to start the month. Futures were also higher today as the increase in ending stocks was not as much as anticipated. There was talk that India will soon be buying a lot with festivals coming soon. Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around. Canola was higher along with the price action in Chicago. Trends are mixed on the daily charts and on the weekly charts. The weather has generally been dry for crop development in the Prairies with warm and dry weather still around.
Chart Analysis: Trends in Canola are mixed. Support is at 635.00, 623.00, and 602.00 November, with resistance at 669.00, 683.00, and 696.00 November. Trends in Palm Oil are mixed to up. Support is at 4410, 4340, and 4300 November, with resistance at 4530, 4590, and 4650 November.

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