SOYBEANS–
July soybeans beans were down 1 cent in the overnight session and slightly lower again today. July beans made a low at 1182 this morning, while November made a low at 1159. The USDA has soybean planting at 23% complete, compared to the analyst estimate at 22% complete. The 5-year average for planting pace this time of year is 12% complete. Harvest in Brazil almost fully complete, with a record crop still expected.
July ’26 Soybeans (ZSN26) settled at 1190.25 (-1.75), high of 1192.75, low of 1182.25. November Soybeans (ZSX26) settled at 1167.75 (+2), high of 1168.50, low of 1159. Cash price is at 1156 (+14)
July Bean Meal (ZMK26) settled at 328.8 (+1.00) high of 330.3, low of 325.1
July Bean Oil (ZLK26) settled at 72.43 (+.76) high of 72.6, low of 71.15
Meal to Oil ratio (47.6% Meal – 52.4% Oil)
ZSN26 Moving Averages – (1182) 5-day, (1182) 20-day, (1184) 50-day, (1143) 100-day, (1120) 200-day
ZSX26 Moving Averages – (1159) 5-day, (1156) 20-day, (1144) 50-day, (1114) 100-day, (1095) 200-day
ZMN26 Moving Averages – (321.4) 5-day, (321.1) 20-day, (319.3) 50-day, (314.8) 100-day, (313.0) 200-day
ZLN26 Moving Averages – (71.51) 5-day, (69.06) 20-day, (66.06) 50-day, (59.43) 100-day, (55.94) 200-day
CORN –
July ’26 Corn settled at 475.50 (+6.25) (ZCN26) high of 47, low of 468.75. December ’26 Corn (ZCZ26) settled at 495.75 (+6.25). Cash price is 465 (+5)
Corn had a nice move higher today after trading 4 cents higher in the overnight session. Corn had help from strength in crude and the rally in wheat today. Corn looks like it wants to continue to move higher. The next resistance for July corn is 480, while the next resistance for December corn is 500. Corn planting is 25% complete, behind the average analyst estimate at 29%. The 5-year average planting pace for this time of year is 19%.
ZCN26 Moving Averages – (467) 5-day, (461) 20-day, (462) 50-day, (456) 100-day, (454) 200-day
ZCZ26 Moving Averages – (487) 5-day, (480) 20-day, (479) 50-day, (469) 100-day, (464) 200-day
WHEAT –
July Chicago Wheat (ZWN26) settled at 658.25 (28.50), with a high of 659.50, low of 627. December ‘26 Wheat (ZWZ26) settled at 689.75 (+28.50). Chicago Wheat has a cash price of 624 (+13). July KC Wheat (KEN5) settled at 702.25 (+27)
July wheat had another big move higher today after trading 13 ¾ cents higher in the overnight session. Wheat shot through resistance the 636 and 650 resistance levels I mentioned yesterday. Yesterday’s crop progress showed winter wheat good/excellent ratings moving lower and poor/very poor conditions increasing in Kansas, Montana, and Colorado. Overall, 30% of the winter wheat crop was rated good/excellent, unchanged from the week prior. Spring wheat was estimated at 19% planted.
ZWN26 Moving Averages – (626) 5-day, (608) 20-day, (601) 50-day, (572) 100-day, (569) 200-day
ZWZ26 Moving Averages – (658) 5-day, (639) 20-day, (631) 50-day, (603) 100-day, (599) 200-day
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