WHEAT
General Comments: Winter Wheat markets were higher at the close last week as the Winter Wheat harvest started to get complete. Spring Wheat was developing under good growing conditions but futures prices closed higher. 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. The Winter Wheat markets are in up trends on the weekly charts. Spring Wheat markets show mixed trends as good conditions are also reported in much of Canada. It remains dry in the western sections of the Great Plains but this will aid harvest progress now. It is still dry in France and Russia and now Spring Wheat areas of Russia are being affected. Russian Winter Wheat yields have improved over time as harvesters move into areas that had better growing conditions. Australia remains in good condition and is getting beneficial rains. About half of the Argentine Wheat belt is too dry.
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 530, 517, and 494 September, with resistance at 552, 564, and 568 September. Trends in Kansas City are mixed. Support is at 440, 431, and 424 September, with resistance at 455, 464, and 468 September. Trends in Minneapolis are mixed. Support is at 510, 508, and 500 September, and resistance is at 520, 528, and 531 September.

RICE
General Comments: Rice was lower as harvest has started near the Gulf Coast. A tropical storm is moving towards Texas but looks to make landfall too far south to impact Rice crops. 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 well covered into new crop, but little Rice is available from producers. The crops that got planted are in very good condition in the south and near the Gulf Coast and are called in good condition now in Mississippi, Arkansas, and Missouri. Texas and southern Louisiana field yield reports are strong.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be near to above normal.
Chart Analysis: Trends are mixed. Support is at 1176, 1170, and 1167 September, with resistance at 1190, 1210, and 1213 September.

CORN AND OATS
General Comments: Corn was lower. It is still a weather market. Rains fell in many of the drier areas of the Midwest again last week and greatly benefited the crops. It was hot and dry over the weekend but it should turn cooler and wetter for parts of this week. Trends are turning down in Corn. There have been problems with demand. Meats processors are back and are close to capacity. Meats wholesale and retail prices are stable or falling. Recent reverses by some states on opening orders are hurting demand ideas for ethanol. US prices are 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 a little higher on better Chinese demand. China has become a much more active buyer of Soybeans here in the US and has promised to ramp up purchases in order to comply with commitments it made under the Phase One trade deal. Its commitments have been thrown into doubt by the continued political tensions between the two countries. China has remained a very active buyer in South America even as it has increased Soybeans buying here in the US, so the overall amount taken from the US might not match the hopes of the trade. Brazil prices have been creeping 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 for additional supplies. The US weather is considered good for growing Soybeans at this time but forecasts call for hot and dry weather in the next few days. Some beneficial rains are possible after that from the hurricane and from monsoon rains from the Pacific.
Overnight News: China bought 132,000 tons of US Soybeans. Mexico bought 250,371 tons of US Soybeans.
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: World vegetable oils markets were higher again last week. Palm Oil closed higher after news of renewed demand interest from India and China and on reports of less production from Malaysia and Indonesia. Flooding and a lack of workers for the plantations have been the reasons to see less production. Higher world petroleum prices helped with ideas of increased bio fuels demand. 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. Soybean Oil and Canola were higher. Soybean Oil found support on increased demand ideas, but closed a little lower anyway on spreads against Soybean Meal. Canola fell initially on improved growing conditions in the Canadian Prairies but recovered with Malaysia. Crop conditions are mostly good and farmers have been selling old crop supplies. The weather has been warmer the past couple of weeks and most areas have seen rain.
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 2710, 2630, and 2570 October, with resistance at 2800, 2830, and 2870 October.