SOYBEANS–
November beans ended the week without any major profit taking going on. The next resistance for November beans is the previous high at 1256 ½. There were some larger flash sales reported this morning from the USDA. One sale 712k mt sale for delivery to China, in addition to a 720k mt sale to an unknown country.
November’26 Soybeans (ZSX26) settled at 1240.25 (+3.75), high of 1240.5, low of 1224.5. January ‘27 Soybeans (ZSF27) settled at 1254.75 (+3.25), high of 1254.75, low of 1239. Cash price is at 1229 (-1)
December Bean Meal (ZMU26) settled at 326.3 (+2.50) high of 326.3, low of 320.1
December Bean Oil (ZLK26) settled at 69.55 (-1.77) high of 71.69, low of 69.0
Meal to Oil ratio (47.825% Meal – 52.175% Oil)
ZSX26 Moving Averages – (1229) 5-day, (1197) 20-day, (1184) 50-day, (1177) 100-day, (1141) 200-day
ZSF27 Moving Averages – (1243) 5-day, (1212) 20-day, (1198) 50-day, (1190) 100-day, (1153) 200-day
ZMZ26 Moving Averages – (322.5) 5-day, (319.3) 20-day, (315.3) 50-day, (315.7) 100-day, (317.6) 200-day
ZLZ26 Moving Averages – (70.18) 5-day, (68.55) 20-day, (68.55) 50-day, (68.09) 100-day, (61.32) 200-day
CORN –
December’26 Corn settled at 508.5 (+4.75) (ZCU26) high of 509, low of 499. March ’27 Corn (ZCZ26) settled at 523.25 (+5). Cash price is 491 (+5)
Corn held above $5 in the December contract in the overnight session and continued its rally today. There was a flash sale this morning for 205k mt of corn for delivery to an unknown country. The December corn chart looks very bullish on the weekly and monthly timeframes.
ZCZ26 Moving Averages – (497) 5-day, (476) 20-day, (463) 50-day, (472) 100-day, (469) 200-day
ZCH27 Moving Averages – (512) 5-day, (491) 20-day, (478) 50-day, (486) 100-day, (482) 200-day
WHEAT –
December Chicago Wheat (ZWZ26) settled at 699.25 (+unchanged), with a high of 705, low of 692.25. March ‘27 Wheat (ZWZ26) settled at 717.75 (+.50). Chicago Wheat has a cash price of 640 (+2). December KC Wheat (KEZ26) settled at 774.50 (-2)
Wheat was quiet today, compared to the other grains. The IGC lowered their forecast for world wheat production by 4 mt to 817 million. Russia’s new wheat production estimate was lowered from 91.1 mmt last year to 88.2 mmt by SovEcon. The export disruption in the Black Sea should help keep the wheat market volatile in the days and weeks ahead.
ZWZ26 Moving Averages – (693) 5-day, (673) 20-day, (656) 50-day, (654) 100-day, (624) 200-day
ZWH27 Moving Averages – (710) 5-day, (690) 20-day, (670) 50-day, (669) 100-day, (639) 200-day
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Hans Schmit
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312-765-7311
hschmit@walshtrading.com
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