WHEAT
General Comments: Wheat was a little lower yesterday on ideas of solid harvest progress and good yields and on a neutral weekly export sales report. Harvest conditions for Winter Wheat appear to be good in the US and Spring Wheat development is good. Rains have been good in the northern Greasy Plains but Canada has been a little too dry for best yield potential. Canada could still produce an average crop. Russia is still being watched for dry weather that could hurt yields and Ukraine is watched for the same reason and because of the war that could destroy some fields. Southern hemisphere crops appear to be good.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up Support is at 521 508 and 496 September, with resistance at 568, 572, and 582 September. Trends in Kansas City are mixed. Support is at 516, 504, and 498 September, with resistance at 550, 565, and 578 September. Trends in Minneapolis are not available.

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RICE
General Comments Rice was a little lower yesterday in light volume trading. Chart trends are still mostly down on the daily charts. The cash market has been slow with mostly quiet domestic markets and average or less export demand. Milling quality of the 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. Condition has been rated as good and the ratings by USDA are above last year.
Overnight News:
Chart Analysis: Trends are down. Support is at 1218, 1206, and 1194 September and resistance is at 1253, 1276, and 1285 September.

CORN AND OATS
General Comments: Corn was lower yesterday on the changing weather for the Midwest. The weather remained cooler last week. Temperatures turned warmer this weekend with hot weather possible through much of this week, but then cooler temperatures should return although it will still be warm. Most of the Midwest has seen adequate or greater precipitation. Demand for Corn in world markets remains strong. Oats were lower yesterday
Overnight News:
Chart Analysis: Trends in Corn are mixed to up. Support is at 390, 387, and 384 September, and resistance is at 414, 418, and 426 September. Trends in Oats are mixed to down. Support is at 349, 339, and 335 September, and resistance is at 383, 388, and 394 September.

SOYBEANS
General Comments: Soybeans and Soybean Meal were lower yesterday as good growing conditions continue in the Midwest. Soybean Oil was a little higher. Hot and dry weather is expected for part of this week, but then temperatures should turn cooler but still remain slightly above normal. There should be some showers around as well once the temperatures turn cooler.. Lower priced offers from Brazil in the world market are still important to the US price action. The market could remain under pressure as Brazil basis levels have been under pressure the last few weeks and prices in world markets for Brazil Soybeans are now less than those from the US. Export demand is in its seasonal doldrums. Export demand remains less for US Soybeans as China has been taking almost all the export from South America.
Overnight News:
Analysis: Trends in Soybeans are mixed. Support is at 1010, 1002, and 993 August, and resistance is at 1047, 1051, and 1064 August. Trends in Soybean Meal are mixed. Support is at 265.00, 262.00, and 259.00 August, and resistance is at 276.00, 282.00, and 287.00 August. Trends in Soybean Oil are mixed to up. Support is at 5150, 5080, and 4920 August, with resistance at 5720, 5840, and 5960 August.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were a little lower on follow through selling and weaker demand ideas.. Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around. Canola was a little lower yesterday. Trends are mixed to up on the daily charts and on the weekly charts. The weather has generally been dry for planting and crop development in the Prairies with warm and dry weather around lately.
Overnight News:
Chart Analysis: Trends in Canola are mixed to up. Support is at 674.00, 665.00, and 660.00 November, with resistance at 713.00, 717.00, and 738.00 November. Trends in Palm Oil are up. Support is at 4130, 4080, and 4020 October, with resistance at 4350, 4410, and 4470 October.

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