SOYBEANS–
Soybeans finished the day higher after yesterday’s lower close. The charts for the grains look strong but that can change over the weekend with the weather. The corn belt is expected to see near normal rains in the 8-14 day forecast. Temperatures are expected to be near normal in eastern soybean areas and warmer west of the Mississippi river. There was some profit-taking in meal today but it’s still in an uptrend.
September ’26 Soybeans (ZSU26) settled at 1193 (+7.75), high of 1194, low of 1177. November Soybeans (ZSX26) settled at 1202.50 (+7.50), high of 1204, low of 1186.50. Cash price is at 1188 (-7)
September Bean Meal (ZMU26) settled at 317.8 (-2.70) high of 320.6, low of 316.3
September Bean Oil (ZLK26) settled at 73.94 (+2.23) high of 74.49, low of 71.51
Meal to Oil ratio (46.125% Meal – 53.875% Oil)
ZSU26 Moving Averages – (1187) 5-day, (1157) 20-day, (1159) 50-day, (1155) 100-day, (1121) 200-day
ZSX26 Moving Averages – (1197) 5-day, (1169) 20-day, (1170) 50-day, (1161) 100-day, (1125) 200-day
ZMU26 Moving Averages – (316.8) 5-day, (308.3) 20-day, (311.9) 50-day, (312.8) 100-day, (314.2) 200-day
ZLU26 Moving Averages – (72.33) 5-day, (69.13) 20-day, (71.01) 50-day, (68.27) 100-day, (60.20) 200-day
CORN –
September ’26 Corn settled at 468.25 (+4.25) (ZCU26) high of 468.25, low of 458.75. December ’26 Corn (ZCZ26) settled at 468.25 (+4.25). Cash price is 461 (-6)
Demand for US corn is strong and weather has been less than perfect in some areas, which has helped corn go higher. The drought monitor is up 7 points versus last year. Corn looks strong technically, trading above the major moving averages on a daily and weekly timeframe.
ZCU26 Moving Averages – (442) 5-day, (430) 20-day, (444) 50-day, (456) 100-day, (452) 200-day
ZCZ26 Moving Averages – (465) 5-day, (450) 20-day, (463) 50-day, (473) 100-day, (467) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 684.75 (+10), with a high of 685, low of 666.50. December ‘26 Wheat (ZWZ26) settled at 701.50 (+10.50). Chicago Wheat has a cash price of 657 (-11). September KC Wheat (KEU26) settled at 734 (+17.50)
Wheat ended the week trading sharply higher in Chicago and in KC, with KC leading on the move up. After the mid-week 50 cent move and no major profit-taking on a Friday, that improves wheat’s chances of continuing to rally. Export concerns in the Black Sea continue to be supportive, in addition to lower Australia production forecasts.
ZWU26 Moving Averages – (663) 5-day, (619) 20-day, (627) 50-day, (624) 100-day, (594) 200-day
ZWZ26 Moving Averages – (678) 5-day, (635) 20-day, (645) 50-day, (642) 100-day, (612) 200-day
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