SOYBEANS–
July beans closed lower today after trading close to unchanged in the overnight session. Today’s export report showed sales of 364k mt old crop beans at 91.9% of the USDA forecast. Soybean meal exports came in below expectations at 162k mt. Last Friday’s COT showed managed money lightening their long position by nearly 15k contracts.
July ’26 Soybeans (ZSN26) settled at 1174.75 (-4.75), high of 1183.75, low of 1172.50. November Soybeans (ZSX26) settled at 1155.25 (-.75), high of 1160, low of 1152.25. Cash price is at 1143 (-10)
July Bean Meal (ZMK26) settled at 317.0 (+0.70) high of 319.3, low of 315.8
July Bean Oil (ZLK26) settled at 71.14 (+.14) high of 71.39, low of 70.19
Meal to Oil ratio (47.225% Meal – 52.775% Oil)
ZSN26 Moving Averages – (1181) 5-day, (1181) 20-day, (1182) 50-day, (1142) 100-day, (1118) 200-day
ZSX26 Moving Averages – (1158) 5-day, (1153) 20-day, (1141) 50-day, (1112) 100-day, (1094) 200-day
ZMN26 Moving Averages – (320.5) 5-day, (319.6) 20-day, (318.8) 50-day, (315.0) 100-day, (312.6) 200-day
ZLN26 Moving Averages – (70.18) 5-day, (68.47) 20-day, (65.22) 50-day, (58.57) 100-day, (55.56) 200-day
CORN –
July ’26 Corn settled at 464.50 (+1.75) (ZCN26) high of 465.25, low of 461. December ’26 Corn (ZCZ26) settled at 464.50 (+1.75). Cash price is 458 (+0.50)
July corn traded slightly higher today with crude oil. Last Friday’s COT showed funds closing a significant number of long futures and options positions. Corn export sales on today’s report were 1,316,703 mt, which was inside the estimate range.
ZCN26 Moving Averages – (461) 5-day, (461) 20-day, (460) 50-day, (455) 100-day, (453) 200-day
ZCZ26 Moving Averages – (480) 5-day, (480) 20-day, (477) 50-day, (468) 100-day, (463) 200-day
WHEAT –
July Chicago Wheat (ZWN26) settled at 622 (+15), with a high of 622.5, low of 607.50. December ‘26 Wheat (ZWZ26) settled at 633.50 (+14.75). Chicago Wheat has a cash price of 607 (+8). July KC Wheat (KEN5) settled at 679 (+29.50)
Wheat made a strong move higher today after a 6 ¾ cent gain in the overnight session. It seemed as though the war in Iran was coming to an end, but now the US is seizing ships in the Strait of Hormuz. Increasing tensions in the Middle East helped wheat move higher today. The 8–14-day forecast shows above normal precipitation chances for the western part of the High Plains, while the outlook for the rest of the plains is near normal. Old crop export sales on today’s report were 129k mt, which was inside the estimated range.
ZWN26 Moving Averages – (609) 5-day, (605) 20-day, (597) 50-day, (570) 100-day, (568) 200-day
ZWZ26 Moving Averages – (640) 5-day, (636) 20-day, (627) 50-day, (600) 100-day, (599) 200-day
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