WHEAT
General Comments: Winter Wheat markets were lower on weaker demand ideas against a growing supply. The Winter Wheat harvest is starting to get complete. Spring Wheat was developing under good growing conditions and futures prices closed lower. All markets felt selling pressure from reports of improving yields in Europe and especially Russia. The yields had been poor but have improved as combines have moved into growing areas that developed under better conditions. Yield reports from the central and southern Great Plains have been variable, but generally a little better than expected. Soft Red Winter yields are expected to be high. Australia remains in good condition and is getting beneficial rains.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be above normal. Northern areas should see scattered showers. Temperatures will average near to above normal. The Canadian Prairies should see scattered showers. Temperatures should average near to above normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 517, 494, and 489 September, with resistance at 540, 552, and 564 September. Trends in Kansas City are mixed. Support is at 431, 424, and 418 September, with resistance at 454, 464, and 468 September. Trends in Minneapolis are mixed. Support is at 510, 508, and 500 September, and resistance is at 518, 520, and 528 September.

RICE
General Comments: Rice was little changed in very quiet trading as a tropical storm has formed and is aimed at the Louisiana and Texas coasts. The Rice harvest is getting started in southern areas, but the tropical system could impact parts of southern Louisiana and Texas at the end of the week. New crop prospects appear solid for increased production in the coming year. The area is larger and the growing conditions are mostly good. The combination of good export buying in general and the buying inside the US due to the Coronavirus has made the market short old crop Rice. There are ideas that the mills are covered into new crop, but little Rice is available from producers. The crops that got planted are called in good condition now in Mississippi, Arkansas, and Missouri. Early harvest activities are reported in Texas and southern Louisiana and early field yield reports are very good.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be near to above normal.
Chart Analysis: Trends are mixed to up with objectives of 1201 and 12222 September. Support is at 1176, 1170, and 1167 September, with resistance at 1190, 1210, and 1213 September.

CORN AND OATS
General Comments: Corn was a little higher on strong demand for the new crop as seen in the weekly export sales report. The weather forecast is generally good for crop development. Rains fell in many of the drier areas of the Midwest in the last week and greatly benefited the crops. Private weather consultants now suggest that just 15% of the crop is too dry. The Midwest is cooler than the last few weeks and some rains are in the forecast. China has seen flooding rains that are thought to have affected Corn production. Meats processors are back and are close to capacity but the backlog of heavyweight cattle and hogs still exists. Demand for gasoline and ethanol could turn static now. Recent reverses by some states on opening orders are hurting demand ideas for ethanol. US Corn prices are still high in the world market so export sales are expected to be less.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 322, 316, and 307 September, and resistance is at 330, 336, and 338 September. Trends in Oats are mixed to up with objectives of 284, 304, and 3211 September. Support is at 284, 281, and 276 September, and resistance is at 288, 290, and 298 September.

SOYBEANS AND PRODUCTS
General Comments: Soybeans were higher on strong demand news. Better Chinese demand is still around as China was a buyer again yesterday. It was a very strong buyer of new crop Soybeans in the weekly export sales report as well. China has promised to ramp up purchases in order to comply with commitments it made under the Phase One trade deal. It also has seen flooding rains that could have affected Soybeans production. Brazil prices have been moving higher for the rest of the world as it starts to run out of Soybeans to export, so China and the rest of the world will look to the US and Argentina for additional supplies. The US weather is considered good for growing Soybeans at this time due to rain and cooler temperatures. Many Soybeans appear short in the central Midwest right now, but conditions are improving and the beans are growing.
Overnight News: Unknown destinations bought 252,000 tons of US Soybeans and Philippines bought 133,000 tons of US Soybean Meal.
Chart Analysis: Trends in Soybeans are mixed to up with objectives of 914 and 927 August. Support is at 901, 890, and 885 August, and resistance is at 911, 917, and 921 August. Trends in Soybean Meal are mixed to up with objectives of 291.00 and 295.00 August. Support is at 287.00, 284.00, and 281.00 August, and resistance is at 292.00, 294.00, and 296.00 August. Trends in Soybean Oil are mixed. Support is at 2960, 2890, and 2850 August, with resistance at 3050, 3100, and 3150 August.

CANOLA AND PALM OIL
General Comments: Palm Oil closed a little higher on ideas of sliding production. The plantations are having trouble getting workers due to the Coronavirus. Palm Oil has been hoping for better demand from importers as world economies slowly open after being closed by the Coronavirus epidemic. Indonesia continues to focus its Palm Oil on internal demand for bio fuels. Canola closed a little higher. Speculators were the best buyers and farmers were the best sellers. The weather has been warmer the past couple of weeks and most areas have seen rain. The crop in the Prairies is rated as 74% good to excellent.
Overnight News:
Chart Analysis: Trends in Canola are mixed to up with objectives of 491.00 November. Support is at 480.00, 475.00, and 470.00 November, with resistance at 487.00, 490.00, and 493.00 November. Trends in Palm Oil are up with objectives of 2930 October. Support is at 2630, 2570, and 2490 October, with resistance at 2710, 2740, and 2770 October.