SOYBEANS–
July beans were down 2 cents in the overnight session and were lower again today. Today’s export report showed soybean export sales of 258k mt. The top buyers of US beans on this report were China, Indonesia, and Egypt. July beans failed to close above the psychological resistance at 1200 today, but the high in the overnight session was 1206 ¼. Soybean oil is still showing impressive strength, avoiding any serious end of the month profit-taking.
July ’26 Soybeans (ZSN26) settled at 1195.25 (-1.75), high of 1206.25, low of 1189.50. November Soybeans (ZSX26) settled at 1171.75 (+.50), high of 1178, low of 1164.50. Cash price is at 1162 (+10)
July Bean Meal (ZMK26) settled at 319.1 (-4.70) high of 324.1, low of 318.1
July Bean Oil (ZLK26) settled at 74.43 (+.31) high of 74.85, low of 73.45
Meal to Oil ratio (46.1% Meal – 53.9% Oil)
ZSN26 Moving Averages – (1190) 5-day, (1183) 20-day, (1185) 50-day, (1144) 100-day, (1122) 200-day
ZSX26 Moving Averages – (1166) 5-day, (1157) 20-day, (1147) 50-day, (1115) 100-day, (1097) 200-day
ZMN26 Moving Averages – (323.4) 5-day, (321.7) 20-day, (319.6) 50-day, (314.7) 100-day, (313.2) 200-day
ZLN26 Moving Averages – (72.81) 5-day, (69.68) 20-day, (66.69) 50-day, (59.86) 100-day, (56.15) 200-day
CORN –
July ’26 Corn settled at 474.75 (-3) (ZCN26) high of 480, low of 471.25. December ’26 Corn (ZCZ26) settled at 493.75 (-4). Cash price is 471 (+1)
Front-month corn was down 2 ¾ cents in the overnight session and lower again today. Export sales were 1,597,831 mt for the current marketing year. Exports are at 90.3% of the USDA forecast. July corn is trading above the 14, 21, and 50 DMA. The next resistance for July corn is 475
ZCN26 Moving Averages – (473) 5-day, (462) 20-day, (463) 50-day, (456) 100-day, (454) 200-day
ZCZ26 Moving Averages – (492) 5-day, (481) 20-day, (480) 50-day, (469) 100-day, (464) 200-day
WHEAT –
July Chicago Wheat (ZWN26) settled at 637.75 (-15.25), with a high of 657.75, low of 634.75. December ‘26 Wheat (ZWZ26) settled at 673.50 (-13). Chicago Wheat has a cash price of 644 (-6). July KC Wheat (KEN5) settled at 696.50 (-8.25)
July wheat was down 10 ¼ cents in the overnight session and continued to break today. There was likely some end of the month profit-taking happening today from funds. It will be interesting to see how wheat trades tomorrow. Wheat exports were 226k for the current marketing year and 156k for the next marketing year. The next area of support is 625 then 580.
ZWN26 Moving Averages – (638) 5-day, (611) 20-day, (605) 50-day, (574) 100-day, (569) 200-day
ZWZ26 Moving Averages – (671) 5-day, (642) 20-day, (635) 50-day, (605) 100-day, (600) 200-day
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