WHEAT
General Comments: Wheat was a little lower in Minneapolis and mixed in Chicago markets on ideas of disappointing demand. The demand has not been seen here, so the Winter Wheat markets have not been able to do more than hold in a range. The weather remains a big problem at home and around the world. 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 and cooler temperature 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. Some showers are now in the forecast for the drier areas but are not expected to help much. 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 scattered showers. Temperatures should be near to above
normal. Northern areas should see scattered showers. Temperatures will be near normal. The Canadian Prairies should see isolated to scattered showers. Temperatures should average near to below normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 719, 707, and 705 December, with resistance at 732, 745, and 754 December. Trends in Kansas City are mixed. Support is at 709, 700, and 699 December, with resistance at 722, 735, and 738 December. Trends in Minneapolis are mixed. Support is at 902, 899, and 894 December, and resistance is at 927, 937, and 950 December.

RICE
General Comments: Rice closed a little lower again yesterday. Hurricane Ida has come and gone with the focus on potential damage to crops in Mississippi. The crops in Louisiana were mostly harvested by the time the storm hit and Texas was too far west. 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. The smut problem appears to be worse around Houston. The harvest pace is expected to be slow due to ongoing showers in both regions and farther into the north. Harvest activities are stalled now in Louisiana and perhaps in Mississippi although Mississippi has been slow to get started anyway. 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. Chart trends are sideways.
Overnight News: The Delta should get isolated showers. Temperatures should be near to below normal.
Chart Analysis: Trends are mixed. Support is at 1329, 1308, and 1299 November, with resistance at 1348, 1358, and 1368 November

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CORN AND OATS
General Comments: Corn was lower as speculators sold on news that Hurricane Ida came onshore in Louisiana and damaged some export terminals on the Mississippi River. Reports indicate that some of the damage was extensive. Electric power has been lost and will take a month to be restored according to utility estimates. 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.. The growing conditions in the US are highly variable and not likely to produce trend line or record yields. 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 in sympathy with Corn as the weather remains bad for production even with the crop near or in harvest. The uncertain weather in the northern Great Plains and Canadian Prairies remains the best support for the market. Canadian Oats areas and those in the northern Great Plains remain too hot and dry. Some rain is now around but is too little and too late to materially help crops.
Overnight News:
Chart Analysis: Trends in Corn are mixed to down with objectives of 516 and 488 December. Support is at 524, 507, and 500 December, and resistance is at 548, 558, and 566 December. Trends in Oats are mixed. Support is at 492, 480, and 467 December, and resistance is at 510, 518, and 520 December.

SOYBEANS
General Comments: Soybeans and the products were lower once again as speculators sold and as Hurricane Ida came and went and damaged some of the loading facilities along the Mississippi River. Exports will be interrupted for at least a few weeks, but a lot will be determined later as the flood waters recede and more exact damage assessments can be made. A lot of the infrastructure was hurt and the electrical grid has been blown down. The utility there estimates that repairs to the grid could take a month in some areas. Funds were the most active sellers in all three markets. China bought more shipments of Soybeans but demand is still weaker than expected overall. US weather is still a feature in the market beside the hurricane. Western and northern areas could get some showers this week, but eastern and southern areas look to stay drier. The forecast feature cooler temperatures as the week moves on. Soybeans conditions in central production area started the year too wet and have suffered some production losses
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 1277, 1260, and 1241 November, and resistance is at 1325, 1339, and 1361 November. Trends in Soybean Meal are mixed. Support is at 343.00, 340.00, and 337.00 October, and resistance is at 349.00, 354.00, and 358.00 October. Trends in Soybean Oil mixed. Support is at 5760, 5700, and 5660 October, with resistance at 6090, 6160, and 6290 October

CANOLA AND PALM OIL
General Comments: Palm Oil was lower on reduced export demand as reported by the private sources.. Exports so far this month have not been strong. Futures are still a trading range market on 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 mixed to lower as production expectations remain low. The weakness was in the nearby months. Damaging weather continues in the Canadian Prairies and northern Great Plains. Production ideas are down due to the extreme weather seen in these areas. It remains generally dry in the Prairies although southern areas have been getting some very needed precipitation. Cool temperatures are forecast for this week.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 857.00, 830.00, and 823.00 November, with resistance at 919.00, 940.00, and 949.00 November. Trends in Palm Oil are mixed. Support is at 4160, 4050, and 3970 November, with resistance at 4400, 4430, and 4530 November.