SOYBEANS–
After consistent new crop flash sales to China last week there no sales reported this morning. Soybean meal was sharply lower today, while soybean oil closed above the psychological resistance at 70 cents. Soybean conditions were 58% good/excellent at no change from last week. Soybean conditions were rated 64% good/excellent this time last year.
November’26 Soybeans (ZSX26) settled at 1316.75 (+7), high of 1321.25, low of 1304. January ‘27 Soybeans (ZSF27) settled at 1332.50 (+7.50), high of 1335.75, low of 1321.75. Cash price is at 1299 (-7)
December Bean Meal (ZMU26) settled at 350.1 (-5.00) high of 355.8, low of 348
December Bean Oil (ZLK26) settled at 70.73 (+1.46) high of 70.82, low of 69.14
Meal to Oil ratio (49.45% Meal – 50.55% Oil)
ZSX26 Moving Averages – (1314) 5-day, (1250) 20-day, (1216) 50-day, (1191) 100-day, (1151) 200-day
ZSF27 Moving Averages – (1329) 5-day, (1265) 20-day, (1230) 50-day, (1205) 100-day, (1162) 200-day
ZMZ26 Moving Averages – (352.5) 5-day, (333.2) 20-day, (324.3) 50-day, (319.1) 100-day, (318.1) 200-day
ZLZ26 Moving Averages – (70.72) 5-day, (69.63) 20-day, (69.23) 50-day, (69.10) 100-day, (62.60) 200-day
CORN –
December’26 Corn settled at 532.75 (-4) (ZCU26) high of 543.5, low of 532. March ’27 Corn (ZCZ26) settled at 548 (-4.25). Cash price is 542 (+6)
Corn finished the day lower after making a high at 543 ½ in the overnight session. Today’s Crop Progress report showed corn conditions falling 1 point from last week to 56% good/excellent, compared to 68% this time last year. Corn rated poor/very poor was unchanged from last week at 17%.
ZCZ26 Moving Averages – (540) 5-day, (513) 20-day, (483) 50-day, (478) 100-day, (473) 200-day
ZCH27 Moving Averages – (555) 5-day, (528) 20-day, (499) 50-day, (493) 100-day, (486) 200-day
WHEAT –
December Chicago Wheat (ZWZ26) settled at 747 (+13.25), with a high of 763, low of 736.5. March ‘27 Wheat (ZWZ26) settled at 761.75 (+12.50). Chicago Wheat has a cash price of 681 (-20). December KC Wheat (KEZ26) settled at 819 (+17.50)
There was no Ukraine peace deal made over the weekend, but there seems to be potential for a deal moving forward. Friday’s WASDE report is expected to be quiet for wheat. HRW wheat led SRW wheat higher during today’s session after both markets traded sharply lower overnight. Spring wheat was 86% harvested on today’s report, which is 3 points ahead of the 5-year average.
ZWZ26 Moving Averages – (758) 5-day, (720) 20-day, (685) 50-day, (667) 100-day, (632) 200-day
ZWH27 Moving Averages – (773) 5-day, (736) 20-day, (700) 50-day, (682) 100-day, (647) 200-day
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Hans Schmit
Broker, Pure Hedge Division
312-765-7311
hschmit@walshtrading.com
Walsh Trading, Inc.
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