SOYBEANS–
Soybeans led the grains, trading higher on the day. Soybeans reversed off their lows today, while soybean oil finished the day lower. Soybean meal faded as the day went on. Soybean oil has strong support below and may be a good buy here.
September ’26 Soybeans (ZSU26) settled at 1239 (+8), high of 1243, low of 1225. November Soybeans (ZSX26) settled at 1252.50 (+8.75), high of 1256.50, low of 1238. Cash price is at 1230 (+14)
September Bean Meal (ZMU26) settled at 331.1 (+2.30) high of 334.4, low of 327.9
September Bean Oil (ZLK26) settled at 73.34 (-1.35) high of 74.77, low of 73.3
Meal to Oil ratio (47.125% Meal – 52.875% Oil)
ZSU26 Moving Averages – (1224) 5-day, (1181) 20-day, (1164) 50-day, (1160) 100-day, (1125) 200-day
ZSX26 Moving Averages – (1237) 5-day, (1193) 20-day, (1175) 50-day, (1166) 100-day, (1129) 200-day
ZMU26 Moving Averages – (326.9) 5-day, (314.9) 20-day, (313.2) 50-day, (313.2) 100-day, (314.8) 200-day
ZLU26 Moving Averages – (73.98) 5-day, (70.64) 20-day, (71.23) 50-day, (68.95) 100-day, (60.79) 200-day
CORN –
September ’26 Corn settled at 464 (unchanged) (ZCU26) high of 468, low of 455.5. December ’26 Corn (ZCZ26) settled at 487.25 (-.25). Cash price is 491 (+7)
The grains continue to remain strong. Corn held it together today despite the sell-off in wheat. Corn areas under drought are up significantly from last year at 20% and 9%, respectively.
ZCU26 Moving Averages – (458) 5-day, (439) 20-day, (442) 50-day, (456) 100-day, (453) 200-day
ZCZ26 Moving Averages – (481) 5-day, (460) 20-day, (462) 50-day, (473) 100-day, (467) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 679 (-17.25), with a high of 711.25, low of 659.5. December ‘26 Wheat (ZWZ26) settled at 695.5 (-16.75). Chicago Wheat has a cash price of 673 (-9). September KC Wheat (KEU26) settled at 746.50 (-13.50)
Since the recent uptrend in wheat began on June 30, the market has made several explosive moves higher. There was some profit-taking in wheat today, but the December contract bounced off the low at 678 this morning. The war premium from the Black Sea can continue to last, in addition to the ongoing dry weather. Unless there’s some real end-of–month liquidation ahead, the rally in wheat can have some staying power.
ZWU26 Moving Averages – (686) 5-day, (640) 20-day, (631) 50-day, (629) 100-day, (597) 200-day
ZWZ26 Moving Averages – (703) 5-day, (656) 20-day, (648) 50-day, (646) 100-day, (615) 200-day
If you’re ready to start trading, click the link below to open an account with Walsh Trading, Inc.
Hans Schmit
Broker, Pure Hedge Division
312-765-7311
hschmit@walshtrading.com
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.