SOYBEANS–
Soybeans finished closed to unchanged today, while soybean oil and meal were mixed. Rain is still in the forecast in the near-term which is weighing on prices. Strong demand from China has helped the beans as they look to fulfill their 25 mmt commitment.
September ’26 Soybeans (ZSU26) settled at 1158.75 (-1.25), high of 1167.5, low of 1157.75. November Soybeans (ZSX26) settled at 1176 (-1.75), high of 1185, low of 1175.5. Cash price is at 1166 (+13)
September Bean Meal (ZMU26) settled at 308.8 (-2.80) high of 312.8, low of 308.6
September Bean Oil (ZLK26) settled at 68.26 (+.52) high of 68.47, low of 67.36
Meal to Oil ratio (47.525% Meal – 52.475% Oil)
ZSU26 Moving Averages – (1161) 5-day, (1189) 20-day, (1162) 50-day, (1162) 100-day, (1131) 200-day
ZSX26 Moving Averages – (1179) 5-day, (1203) 20-day, (1175) 50-day, (1170) 100-day, (1135) 200-day
ZMU26 Moving Averages – (311.8) 5-day, (318.5) 20-day, (311.8) 50-day, (313.4) 100-day, (315.6) 200-day
ZLU26 Moving Averages – (68.14) 5-day, (70.87) 20-day, (70.63) 50-day, (69.44) 100-day, (61.67) 200-day
CORN –
September ’26 Corn settled at 438.75 (-.25) (ZCU26) high of 445.5, low of 438.5. December ’26 Corn (ZCZ26) settled at 461.5 (-.5). Cash price is 451 (-0.25)
Corn finished close to unchanged to end the week. December corn has resistance at 470 and support at 458. Demand may pick up in the near-term as Europe is expected to have a small crop.
ZCU26 Moving Averages – (441) 5-day, (447) 20-day, (437) 50-day, (454) 100-day, (453) 200-day
ZCZ26 Moving Averages – (464) 5-day, (470) 20-day, (458) 50-day, (472) 100-day, (468) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 638.25 (+7), with a high of 646, low of 628.5. December ‘26 Wheat (ZWZ26) settled at 656.5 (+6). Chicago Wheat has a cash price of 596 (-11). September KC Wheat (KEU26) settled at 712.75 (+13)
December wheat is still in a downtrend after making a high at 729 in mid-July. Wheat may have found support here, leading the grains higher on the day. Wheat fundamentals are way more positive than earlier in the year, wheat may see some volatile trading ahead especially as new WASDE reports are released.
ZWU26 Moving Averages – (640) 5-day, (661) 20-day, (628) 50-day, (632) 100-day, (602) 200-day
ZWZ26 Moving Averages – (659) 5-day, (679) 20-day, (645) 50-day, (650) 100-day, (619) 200-day
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Hans Schmit
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312-765-7311
hschmit@walshtrading.com
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