SOYBEANS–
Soybean harvest is 12% done, 4 points ahead of the average pace. Planting in Brazil has just begun. Soybean meal continues to rally, while soybean oil has trended lower.
November’26 Soybeans (ZSX26) settled at 1325 (-3), high of 1331.5, low of 1318.5. January ‘27 Soybeans (ZSF27) settled at 1340.50 (-3.50), high of 1346.75, low of 1324.25. Cash price is at 1269 (-24)
December Bean Meal (ZMU26) settled at 367.7 (+9.10) high of 369, low of 359.1
December Bean Oil (ZLK26) settled at 68.79 (+.57) high of 69.1, low of 67.57
Meal to Oil ratio (52.275% Meal – 47.725% Oil)
ZSX26 Moving Averages – (1319) 5-day, (1303) 20-day, (1244) 50-day, (1207) 100-day, (1160) 200-day
ZSF27 Moving Averages – (1335) 5-day, (1319) 20-day, (1259) 50-day, (1221) 100-day, (1173) 200-day
ZMZ26 Moving Averages – (366.9) 5-day, (354.2) 20-day, (334.5) 50-day, (323.9) 100-day, (319.4) 200-day
ZLZ26 Moving Averages – (68.76) 5-day, (69.82) 20-day, (69.66) 50-day, (69.52) 100-day, (63.51) 200-day
CORN –
December’26 Corn settled at 536.75 (-6.75) (ZCU26) high of 544.5, low of 535.5. March ’27 Corn (ZCZ26) settled at 550.50 (-6.25). Cash price is 544 (+8)
Corn harvest is moving forward at 13% complete. The current pace is slightly above last year and the average pace. Wet weather is expected in the western Corn Belt later in week and over the weekend.
ZCZ26 Moving Averages – (534) 5-day, (535) 20-day, (500) 50-day, (483) 100-day, (476) 200-day
ZCH27 Moving Averages – (548) 5-day, (549) 20-day, (515) 50-day, (498) 100-day, (489) 200-day
WHEAT –
December Chicago Wheat (ZWZ26) settled at 717.25 (-10.50), with a high of 729.5, low of 714.75. March ‘27 Wheat (ZWH26) settled at 733.25 (-10.25). Chicago Wheat has a cash price of 666 (+12). December KC Wheat (KEZ26) settled at 779.50 (-15)
Winter wheat was 17% planted and 2% emerged on yesterday’s Crop Progress report. Current planting pace trails the 5-year average and last year. In Russia, winter wheat planting is moving at a slow pace, and the total planted area is expected to be the smallest in 12 years.
ZWZ26 Moving Averages – (723) 5-day, (741) 20-day, (705) 50-day, (674) 100-day, (639) 200-day
ZWH27 Moving Averages – (739) 5-day, (757) 20-day, (721) 50-day, (690) 100-day, (654) 200-day
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Hans Schmit
Broker, Pure Hedge Division
312-765-7311
hschmit@walshtrading.com
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