SOYBEANS–
The grains were pressured overnight, including soybeans, but they rallied off the morning low at 1290 ¼ in the November contract. There was another new crop soybean sale to China for 192k mt. Soybean meal had another strong day and looks bullish on the weekly chart.
November’26 Soybeans (ZSX26) settled at 1314.50 (+4.25), high of 1319, low of 1290.25. January ‘27 Soybeans (ZSF27) settled at 1305 (+5), high of 133.75, low of 1305. Cash price is at 1300 (-8)
December Bean Meal (ZMU26) settled at 355.2 (+5.60) high of 356.4, low of 344.5
December Bean Oil (ZLK26) settled at 70.04 (-.96) high of 71.01, low of 69.26
Meal to Oil ratio (49.25% Meal – 50.75% Oil)
ZSX26 Moving Averages – (1304) 5-day, (1237) 20-day, (1209) 50-day, (1188) 100-day, (1149) 200-day
ZSF27 Moving Averages – (1319) 5-day, (1252) 20-day, (1224) 50-day, (1201) 100-day, (1161) 200-day
ZMZ26 Moving Averages – (350.4) 5-day, (329.2) 20-day, (322.4) 50-day, (318.4) 100-day, (318.0) 200-day
ZLZ26 Moving Averages – (71.16) 5-day, (69.49) 20-day, (69.11) 50-day, (68.94) 100-day, (62.43) 200-day
CORN –
December’26 Corn settled at 540.75 (-4.25) (ZCU26) high of 542.75, low of 526.5. March ’27 Corn (ZCZ26) settled at 556 (-4.25). Cash price is 540 (-2)
Corn was lower in the overnight session after Putin make comments about a chance for peace. December corn has resistance at 550, while March ’27 corn has resistance at 565.
ZCZ26 Moving Averages – (540) 5-day, (506) 20-day, (480) 50-day, (477) 100-day, (472) 200-day
ZCH27 Moving Averages – (555) 5-day, (521) 20-day, (495) 50-day, (491) 100-day, (485) 200-day
WHEAT –
December Chicago Wheat (ZWZ26) settled at 754.25 (-21.75), with a high of 795, low of 730.5. March ‘27 Wheat (ZWZ26) settled at 770 (-22.50). Chicago Wheat has a cash price of 721 (-17). December KC Wheat (KEZ26) settled at 815.5 (-21)
Wheat was sharply lower in the overnight session before reversing off the low at 730 ½ in the December contract this morning. Putin mentioned a chance for peace but it comes just days after Russia threatened Germany. December wheat has support at the 21 DMA at 723, while resistance is at 754 ¼ and 775.
ZWZ26 Moving Averages – (773) 5-day, (712) 20-day, (679) 50-day, (665) 100-day, (631) 200-day
ZWH27 Moving Averages – (773) 5-day, (712) 20-day, (679) 50-day, (665) 100-day, (631) 200-day
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