WHEAT
General Comments: Winter Wheat markets were lower on the higher US Dollar. The Dollar has turned trends up and this is hurting Wheat prices. Overseas weather remains variable for Wheat production. Western Europe is likely to get some rains in the short term, but eastern Europe and southern Russia could stay dry. These areas are trying to plant the next Winter Wheat crop but the dry weather and the dry soils are keeping farmers out of the fields. Less production is likely in Argentina due to drought. About half of Argentine growing areas are affected. The next crop is being planted now in the northern parts of the world. Conditions are improved in the US after some rains fell in the Great Plains but the southern Great Plains remains mostly hot and dry. The Midwest has had god rains although some areas in the southern Midwest have not gotten much rain recently.
Overnight News: The southern Great Plains should get scattered showers and some big rains along the Gulf coast from the hurricane. Temperatures should be near to below normal. Northern areas should see isolated showers. Temperatures will average near to below normal. The Canadian Prairies should see isolated showers. Temperatures should average near to below normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 547, 542, and 537 December, with resistance at 560, 568, and 578 December. Trends in Kansas City are mixed Support is at 482, 476, and 470 December, with resistance at 501, 504, and 512 December. Trends in Minneapolis are mixed. Support is at 532, 523, and 519 December, and resistance is at 545, 549, and 555 December.

RICE
General Comments: Rice was a little lower after trading both sides of unchanged. Reports indicate that export and domestic demand has not been real strong, but it has improved lately and could be strong again this week. The rebound in demand supported futures. The harvest has been active in most states with good field yields reported. Quality is said to be very good, especially in Arkansas. Milling yields are higher and appearance is very good with minimal chalk or peck showing.
Overnight News: The Delta should get scattered showers with heavy rains in the south from the hurricane. Temperatures should be near to above normal.
Chart Analysis: Trends are mixed. Support is at 1222, 1210, and 1204 November, with resistance at 1260, 1267, and 1290 November.

CORN AND OATS
General Comments: Corn was slightly lower on demand concerns sparked in part by the strength in the US Dollar and on ideas of increasing harvest progress and pressure. Demand is holding strong for exports, but it is harvest time and initial yield reports have been average to strong except for in Iowa. USDA has found less damage to crops in Iowa and northern Illinois due to the drought and derecho winds that hit both areas a month ago. That allowed for the higher yield, production, and ending stocks estimates. The harvest is concentrated in the southeast and Delta for now and has started to expand into the Midwest with very good harvest conditions. Demand has held together with China and other countries doing some buying.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 364, 363, and 361 December, and resistance is at 373, 379, and 380 December. Trends in Oats are mixed to up with objectives of 290 December. Support is at 279, 275, and 273 December, and resistance is at 292, 294, and 297 December.

SOYBEANS AND PRODUCTS
General Comments: Soybeans were a little lower and Soybean Oil lower in the face of the stronger US Dollar and expanding harvest progress. Weaker Palm Oil prices also hurt Soybean Oil. Soybean Meal was stronger on spreading against Soybean Oil. Soybeans were the leader to the upside due to the strong Chinese demand but gave back the gains of last week even with new buying from China and other destinations. Much of the demand until now has been from China and some in the trade now think China will buy more than what USDA has indicated in its supply and demand tables. The trade generally expects China to shift its buying back to Brazil in the near future, but USDA suggests that China could continue to buy here a little longer than expected. The harvest has expanded into parts of the Midwest. Some yield reports in Iowa have been poor, but producers in Illinois are harvesting good but not great crops.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 1006, 985, and 982 November, and resistance is at 1027, 1048, and 1060 November. Trends in Soybean Meal are up with no objectives. Support is at 337.00, 330.00, and 327.00 October, and resistance is at 340.00, 342.00, and 345.00 October. Trends in Soybean Oil are mixed to down with no objectives. Support is at 3260, 3200, and 3180 October, with resistance at 3360, 3370, and 3400 October.

CANOLA AND PALM OIL
General Comments: Palm Oil closed lower today on speculative long liquidation. Demand reports from the private surveyors are stronger this month. Production ideas are turning seasonally higher as trees enter a peak production period over the next few months, but year to year production estimates are down this year from last year. Most importers seem to have enough stocks on hand and the Coronavirus pandemic is keeping overall demand on the lighter side. Canola was a little lower. The harvest is proceeding with no problems right now. Canola farmers have withdrawn from the market and speculators are selling.
Overnight News:
Chart Analysis: Trends in Canola are mixed to down with objectives of 514.00 and 476.00 November. Support is at 515.00, 510.00, and 505.00 November, with resistance at 524.00, 528.00, and 534.00 November. Trends in Palm Oil are down with no objectives. Support is at 2850, 2790, and 2760 December, with resistance at 2930, 3000, and 3050 December.