SOYBEANS–
Soybeans exploded higher today, making a high at 1333 ½ in the December contract. There were another series of flash sales reported this morning. One sale was for new crop beans to China, while the other was a sale to an unknown country. Soybean oil was sharply higher today and is looking very strong technically.
November’26 Soybeans (ZSX26) settled at 1332.25 (+22.25), high of 1333.5, low of 1305. January ‘27 Soybeans (ZSF27) settled at 1347 (+21.75), high of 1348.75, low of 1320.75. Cash price is at 1284 (-7)
December Bean Meal (ZMU26) settled at 356.8 (+5.40) high of 357.1, low of 350
December Bean Oil (ZLK26) settled at 71.97 (+1.40) high of 72.06, low of 69.88
Meal to Oil ratio (49.55% Meal – 50.45% Oil)
ZSX26 Moving Averages – (1316) 5-day, (1265) 20-day, (1223) 50-day, (1194) 100-day, (1153) 200-day
ZSF27 Moving Averages – (1332) 5-day, (1280) 20-day, (1237) 50-day, (1208) 100-day, (1165) 200-day
ZMZ26 Moving Averages – (353.7) 5-day, (337.3) 20-day, (326.3) 50-day, (319.8) 100-day, (318.3) 200-day
ZLZ26 Moving Averages – (70.50) 5-day, (69.91) 20-day, (69.44) 50-day, (69.26) 100-day, (62.80) 200-day
CORN –
December’26 Corn settled at 533.75 (+5.75) (ZCU26) high of 534.5, low of 526.5. March ’27 Corn (ZCZ26) settled at 548.75 (+5.50). Cash price is 536 (+1)
Corn was higher today ahead of tomorrow’s crop report. Corn demand is expected to be strong moving forward due to a poor EU crop. The next export report will be released tomorrow.
ZCZ26 Moving Averages – (534) 5-day, (519) 20-day, (487) 50-day, (479) 100-day, (473) 200-day
ZCH27 Moving Averages – (550) 5-day, (534) 20-day, (502) 50-day, (494) 100-day, (487) 200-day
WHEAT –
December Chicago Wheat (ZWZ26) settled at 741.25 (+12.75), with a high of 742, low of 723.25. March ‘27 Wheat (ZWZ26) settled at 756.75 (+12.50). Chicago Wheat has a cash price of 673 (-20). December KC Wheat (KEZ26) settled at 818.75 (+12.75)
Chicago and KC wheat were sharply higher heading into tomorrow’s crop report. The September report is expected to be quiet for wheat but export disruptions continue to add to the support the potential for higher prices.
ZWZ26 Moving Averages – (741) 5-day, (727) 20-day, (690) 50-day, (669) 100-day, (633) 200-day
ZWH27 Moving Averages – (756) 5-day, (744) 20-day, (705) 50-day, (684) 100-day, (649) 200-day
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hschmit@walshtrading.com
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