SOYBEANS–
Soybeans and crush products started to break in the overnight session but held above 1300 today in the November contract. Soybeans can likely hold it together until the China meeting on Thursday.
November’26 Soybeans (ZSX26) settled at 1303 (-16.75), high of 1322, low of 1300. January ‘27 Soybeans (ZSF27) settled at 1319.50 (-17.50), high of 1339, low of 1317. Cash price is at 1293 (-1)
December Bean Meal (ZMU26) settled at 358.6 (-12.70) high of 372.3, low of 356.6
December Bean Oil (ZLK26) settled at 68.13 (-1.02) high of 69.2, low of 68.01
Meal to Oil ratio (51.15% Meal – 48.85% Oil)
ZSX26 Moving Averages – (1313) 5-day, (1294) 20-day, (1239) 50-day, (1204) 100-day, (1158) 200-day
ZSF27 Moving Averages – (1330) 5-day, (1309) 20-day, (1254) 50-day, (1218) 100-day, (1171) 200-day
ZMZ26 Moving Averages – (363.3) 5-day, (349.9) 20-day, (332.4) 50-day, (322.8) 100-day, (319.0) 200-day
ZLZ26 Moving Averages – (69.50) 5-day, (69.82) 20-day, (69.72) 50-day, (69.50) 100-day, (63.35) 200-day
CORN –
December’26 Corn settled at 527.25 (-3.25) (ZCU26) high of 532.75, low of 525.5. March ’27 Corn (ZCZ26) settled at 541.5 (-3.50). Cash price is 539 (-3)
Corn lost some momentum recently but still has support at 525 in the December contract. If corn purchases from materialize from China after the U.S. China summit corn could be back near 550 in a hurry.
ZCZ26 Moving Averages – (532) 5-day, (532) 20-day, (497) 50-day, (482) 100-day, (475) 200-day
ZCH27 Moving Averages – (546) 5-day, (547) 20-day, (512) 50-day, (497) 100-day, (489) 200-day
WHEAT –
December Chicago Wheat (ZWZ26) settled at 713.50 (-13.50), with a high of 729, low of 711.25. March ‘27 Wheat (ZWH26) settled at 730 (-13.50). Chicago Wheat has a cash price of 667 (-3). December KC Wheat (KEZ26) settled at 784 (-10.50)
Chicago wheat ended the week lower and is starting roll over on the daily chart. Wheat lost support at the shorter-term moving averages but still has support at 700 and the 50 DMA below.
ZWZ26 Moving Averages – (724) 5-day, (739) 20-day, (702) 50-day, (673) 100-day, (638) 200-day
ZWH27 Moving Averages – (740) 5-day, (754) 20-day, (718) 50-day, (689) 100-day, (653) 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.