WALSH PURE SPREADER
Pure Hedge Division
RICH MORAN 9/16/2026
MAR-MAY SOYBEAN SPREAD (ZSH27-ZSK27)
The Soybean market had a strong rally from the middle of August until the beginning of September. In just a couple weeks the Soybeans went from below $12.00 to above $13.00. During that time the chart for the MAR-MAY Soybean spread (ZSH27-ZSK27) floated above both the 14-day and 21-day moving averages. Things seem to have possibly settled down in the Soybean market, and this spread has dropped below these moving averages for a few days now. If the Soybean market is on pause from its recent rally, which I think it might be, it could be a good time to short this spread with a quick stop just above the 14-day and 21-day moving averages. Even if the Soybean market upticks, I think this spread can stay below these moving averages.
I think we should try to sell the MAR-MAY Soybean spread (ZSH27-ZSK27) at -6. This is just above today’s settlement of -6¼. Both the 14-day and 21-day moving averages went out today at -5½, so I would advise a quick stop just above that at -4½. This may be a quick trade as we will only be risking 1½ cents to make 4½ cents.
So, I am suggesting that when the market opens this evening, try to sell the MAR-MAY Soybean spread (ZSH27-ZSK27) at -6, or better. If you are not able to sell it there on the open, leave a resting (GTC) offer in at -6.
If you are able to sell this spread at this price, risk 1½ (price of -4½) or $75 Per Spread, to make 4½ (price of -10½) or $225 Per Spread, plus fees and commissions.
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Rich Moran
Senior Commodities Broker
Direct: (312)985-0298
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
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