SOYBEANS–
There were no flash sales in the beans this morning, however China has been buying new crop beans at a decent pace. Soybeans and soybean oil were sharply higher today, while meal had a $2 gain. The Pro Farmer crop tour should give some further insight into crop conditions. On Friday’s Cot report funds were long 100k contracts after selling nearly 25k contracts.
September ’26 Soybeans (ZSU26) settled at 1200.50 (+22.75), high of 1203, low of 1173.5. November Soybeans (ZSX26) settled at 1216 (+23.50), high of 1218, low of 1188.25. Cash price is at 1181 (+10)
September Bean Meal (ZMU26) settled at 312.0 (+1.80) high of 313.8, low of 308.9
September Bean Oil (ZLK26) settled at 71.40 (+1.96 high of 71.65, low of 69.03
Meal to Oil ratio (46.625% Meal – 53.375% Oil)
ZSU26 Moving Averages – (1172) 5-day, (1183) 20-day, (1162) 50-day, (1164) 100-day, (1134) 200-day
ZSX26 Moving Averages – (1188) 5-day, (1199) 20-day, (1176) 50-day, (1173) 100-day, (1138) 200-day
ZMU26 Moving Averages – (308.6) 5-day, (315.6) 20-day, (310.6) 50-day, (313.0) 100-day, (315.5) 200-day
ZLU26 Moving Averages – (69.48) 5-day, (69.94) 20-day, (69.97) 50-day, (69.78) 100-day, (62.22) 200-day
CORN –
September ’26 Corn settled at 464.50 (+5.50) (ZCU26) high of 466.75, low of 458. December ’26 Corn (ZCZ26) settled at 489 (+5.75). Cash price is 471 (+11)
Managed money has more bullish position in corn than in beans as of Friday’s report. Funds were long 166k contracts of corn futures and options after selling 15k contracts. French corn is reportedly not doing well after Europe dealt with unusually hot weather. December corn has been acting strong but is now coming up against resistance at 490.
ZCU26 Moving Averages – (453) 5-day, (450) 20-day, (437) 50-day, (453) 100-day, (453) 200-day
ZCZ26 Moving Averages – (477) 5-day, (473) 20-day, (458) 50-day, (471) 100-day, (468) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 674.75 (unchanged), with a high of 680, low of 665.25. December ‘26 Wheat (ZWZ26) settled at 689.25 (-.25). Chicago Wheat has a cash price of 632 (+22). September KC Wheat (KEU26) settled at 757.75 (+3.50)
Wheat finished the day close to unchanged in the Chicago contract, while KC wheat was slightly higher. The KEZ26-ZWZ26 wheat spread is up sharply from last week and last month and may have more room to run. Black Sea exports pressure shows no signs of slowing after Russia rejected the idea of a ceasefire on Friday.
ZWU26 Moving Averages – (657) 5-day, (658) 20-day, (632) 50-day, (634) 100-day, (604) 200-day
ZWZ26 Moving Averages – (673) 5-day, (676) 20-day, (649) 50-day, (652) 100-day, (622) 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.
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.