SOYBEANS–
Soybeans are back into the previous trading range after losing 1200. Soybeans have been supported by strong Chinese buying, but timely rain has taken the weather premium out of the market.
September ’26 Soybeans (ZSU26) settled at 1162.75 (+3.75), high of 1167.5, low of 1158. November Soybeans (ZSX26) settled at 1180.25 (+4), high of 1185, low of 1175. Cash price is at 1164 (-2)
September Bean Meal (ZMU26) settled at 305.7 (-3.20) high of 311, low of 305.4
September Bean Oil (ZLK26) settled at 69.46 (+1.30) high of 69.62, low of 69.46
Meal to Oil ratio (46.775% Meal – 53.225% 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 – (309.8) 5-day, (318.1) 20-day, (311.5) 50-day, (313.4) 100-day, (315.6) 200-day
ZLU26 Moving Averages – (68.29) 5-day, (70.74) 20-day, (70.55) 50-day, (69.49) 100-day, (61.76) 200-day
CORN –
September ’26 Corn settled at 438.25 (-.75) (ZCU26) high of 442.25, low of 436.5. December ’26 Corn (ZCZ26) settled at 462 (unchanged). Cash price is 451 (unchanged)
Crude oil was sharply higher today, but it failed to help corn. Corn still has resistance at 470 in the December contract. Corn, soybeans, and wheat are all trading at support.
ZCU26 Moving Averages – (439) 5-day, (447) 20-day, (436) 50-day, (454) 100-day, (453) 200-day
ZCZ26 Moving Averages – (462) 5-day, (470) 20-day, (457) 50-day, (472) 100-day, (468) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 639.50 (-.25), with a high of 656.5, low of 639.25. December ‘26 Wheat (ZWZ26) settled at 658.50 (+.25). Chicago Wheat has a cash price of 599 (+3). September KC Wheat (KEU26) settled at 712.50 (-1.50)
Wheat continues the trend of trading higher in the overnight session and lower during the day. December wheat traded as high as 674 ½ overnight. December KC wheat made a high at 750 ½ overnight.
ZWU26 Moving Averages – (638) 5-day, (662) 20-day, (628) 50-day, (632) 100-day, (602) 200-day
ZWZ26 Moving Averages – (657) 5-day, (679) 20-day, (645) 50-day, (650) 100-day, (620) 200-day
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Hans Schmit
Broker, Pure Hedge Division
312-765-7311
hschmit@walshtrading.com
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