WHEAT
General Comments: Wheat was mixed, with HRW a little higher and SRW a little lower. Minneapolis was lower but rallied off the lows to close near the bottom of a recent trading range. The weekly export sales was poor once again. The demand has not been seen here, so the Winter Wheat markets have not been able to do more than hold in a range. Hurricane Ida did not reach into most Wheat areas, but could have brought some big rains to some SRW areas. Wheat loading ports in the US are mostly in Texas or the PNW and were not affected. Dry weather in southern Russia as well as the northern US Great Plains and Canadian Prairies remains a supportive feature in the market although the US and Canada are seeing some showers this week. Crop size estimates in Russia have been reduced and domestic Russian prices are above world prices. The Russian weather has been good for production in northern and western areas but is still trending dry in southern areas and into Kazakhstan. The weather in China and Europe is wet and there is potential for reduced quality in Europe. Europe is expecting top yields in some areas but less yield in others and parts of eastern Europe and northern Russia are expecting strong yields.
Overnight News: The southern Great Plains should get isolated showers. Temperatures should be near to above
normal. Northern areas should see mostly dry conditions. Temperatures will be near normal. The Canadian Prairies should see isolated showers or dry conditions. Temperatures should average near to below normal. Nigeria bought 327,50 tons of US HRW Wheat.
Chart Analysis: Trends in Chicago are mixed. Support is at 709, 705, and 693 December, with resistance at 732, 745, and 754 December. Trends in Kansas City are mixed. Support is at 711, 6787, and 6585 December, with resistance at 735, 738, and 747 December. Trends in Minneapolis are mixed. Support is at 890, 880, and 875 December, and resistance is at 927, 937, and 950 December.

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RICE
General Comments: Rice closed a little lower last week and the price action has been weak as the harvest makes progress in the south. Harvesting continues in Louisiana and Texas. A delayed harvest is expected in Mississippi and Arkansas. Initial yield reports and quality reports have been acceptable to many in Texas and are called good in Louisiana. Smut has been reported in Texas but the smut is coming off the grain in the cleaning process and the problem is considered to be minor. The harvest pace is expected to be slow due to ongoing showers in both regions and farther into the north. Ideas of average yields are also heard in Arkansas and Mississippi. Growing conditions have been mixed at best with many areas getting too much rain.
Overnight News: The Delta should get isolated showers. Temperatures should be near to below normal.
Chart Analysis: Trends are mixed. Support is at 1320, 1308, and 1299 November, with resistance at 1348, 1358, and 1368 November

CORN AND OATS
General Comments: Corn was lower last week on ideas of increasing production and less demand. The trade widely expects USDA to show improved yields in its production estimates next Friday, and planted area is expected to increase as well In the meantime, demand ideas are dropping due to less than hoped for demand at the current time and now because of the effects of Hurricane Ida. The hurricane moved onshore in Louisiana and did extensive damage to the state, including the grain export elevators. The state also lost electrical posser in all affected areas and it will take some time for that to get fixed. Damage assessments for the elevators is expected this week. The weather remains a feature of the trade but is less important now as pollination is done and the Corn is filling kernels and starting to mature. Some forecasts call for improved weather, especially in the northern and western belt. Ideas are that Brazil Corn production could be less than 85 million tons so reduced production estimates are expected in coming reports. Oats were lower last week as the weather remains bad for production even with the crop near or in harvest.
Overnight News:
Chart Analysis: Trends in Corn are mixed to down with objectives of 516 and 488 December. Support is at 516, 507, and 500 December, and resistance is at 530, 543, and 548 December. Trends in Oats are mixed. Support is at 500, 492, and 480 December, and resistance is at 518, 520, and 531 December.

SOYBEANS
General Comments: Soybeans and Soybean Meal were lower and trends are turning down on the weekly charts. Funds were the most active traders in all three markets. The destruction of Gulf port facilities along the Mississippi River near New Orleans was the reason for the big selling. The hurricane moved onshore in Louisiana and did extensive damage to the state, including the grain export elevators. The state also lost electrical posser in all affected areas and it will take some time for that to get fixed. Damage assessments for the elevators is expected this week. Demand has held together despite the export problems. China bought more shipments of Soybeans last week but demand is still weaker than expected overall. USDA will release its production and supply and demand reports this week and the trade widely expects USDA to show more production due to better yields and increased planted area.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 1270, 1269, and 1241 November, and resistance is at 1309, 1325, and 1339 November. Trends in Soybean Meal are down with objectives of 335.00 and 324.00 October. Support is at 334.00, 331.00, and 328.00 October, and resistance is at 344.00, 349.00, and 354.00 October. Trends in Soybean Oil mixed. Support is at 5900, 5750, and 5730 October, with resistance at 6010, 6090, and 6160 October

CANOLA AND PALM OIL
General Comments: Palm Oil closed lower last week on demand concerns. Exports were not strong last month and the trade expects big ending stocks when MPOB releases its monthly data later this week. There are ideas of tight supplies due to labor problems. There are just not enough workers in the fields due to Coronavirus restrictions. Production has also been down to more than offset the export losses so prices have trended higher. Canola closed lower last week as the harvest is getting ready to start. Damaging weather continues in the Canadian Prairies and northern Great Plains but some showers are in the forecast for this week. Production ideas are down due to the extreme weather seen in these areas. It remains generally dry and warm in the Prairies. The Prairies crops are in big trouble now due to previous hot and dry weather and the rains are coming too late.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 881.00, 868.00, and 857.00 November, with resistance at 905.00, 909.00, and 940.00 November. Trends in Palm Oil are mixed. Support is at 4150, 4050, and 3970 November, with resistance at 4360, 4430, and 4530 November.