Commodity sector - Grains actionable analysis

Ahead of USDA's weekly export sales data, here is our two cents on some of the frequently transacted grains:

Wheat markets were mixed at the 8/5 cash close. Chicago wheat finished the midweek session 3 3/4 to 10 cents higher but appeared somewhat subdued heading into the weekend. KC futures gained 6 1/2 to 14 cents across the board, while MPLS spring wheat was mixed, with nearby contracts down as much as 1 1/4 cents. Weekly export sales data is due today, with traders expecting 2026/27 wheat net sales of 250K~450K metric tons for the final week of July 2026. Concerns continue over Black Sea export flows as the Russia-Ukraine conflict has intensified attacks on vessels and ports in recent weeks. Among notable grain purchases, Algeria bought an estimated 720,000 metric tons of wheat this past Wednesday.

Soybeans have eased from the week’s high above 1198 to 1167 as trading moves past midweek. For the final week of July 2026, analysts expect USDA export sales of 100K~400K metric tons, with new-crop business projected at 0.9 to 1.55 million metric tons. Soybean meal sales are expected between 200,000 and 500,000 metric tons, while bean oil is forecast to range from 10,000 metric tons in net cancellations to 10,000 metric tons in sales. NOAA’s 7-day QPF shows rain across much of IA, MO, IL, IN, WI, MI, and OH over the next week, with totals near 1 to 4 inches in some areas. Overseas, China’s Sinograin held another imported soybean auction, selling about 500,000 metric tons at an average price just below $595 per metric ton.

Today's trade opportunity (ZWU26) (ZSU26) (ZMZ26) (ZLU26) (ZCZ26) (ZOZ26) 

Downloadable charts

Soybean -> https://app.screencast.com/KCR2jkx7d9XBf

Chicago Wheat -> https://app.screencast.com/XNDhkiP0iYSOC

Oats -> https://app.screencast.com/IgyU7CG6sixQi

Soybean Oil -> https://app.screencast.com/hrVUXiIQsgqOp

Corn -> https://app.screencast.com/EXUxr8JuGUdM2

Soy Meal -> https://app.screencast.com/hpbVkPMhHng0r

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