SOYBEANS–
Soybeans continue to make lower lows this week, trading lower again today. Soybean exports were 302k mt for old crop and 1.33 mmt for new crop. China accounted for 519k mt of new crop sales. Soybean exports for the current marketing year are 1.532 bb versus 1.875 bb last year. The next meeting with China is scheduled for September 24.
September ’26 Soybeans (ZSU26) settled at 1171.75 (-4.25), high of 1181.25, low of 1168. November Soybeans (ZSX26) settled at 1188.50 (-4.25), high of 1198.50, low of 1184.25. Cash price is at 1171 (-34)
September Bean Meal (ZMU26) settled at 317.50 (-.40) high of 319.9, low of 315.4
September Bean Oil (ZLK26) settled at 68.27 (-.39) high of 69.12, low of 67.98
Meal to Oil ratio (47.9% Meal – 52.1% Oil)
ZSU26 Moving Averages – (1198) 5-day, (1192) 20-day, (1164) 50-day, (1162) 100-day, (1128) 200-day
ZSX26 Moving Averages – (1213) 5-day, (1204) 20-day, (1176) 50-day, (1169) 100-day, (1132) 200-day
ZMU26 Moving Averages – (321.6) 5-day, (318.3) 20-day, (312.8) 50-day, (313.5) 100-day, (315.2) 200-day
ZLU26 Moving Averages – (70.27) 5-day, (71.05) 20-day, (71.07) 50-day, (69.21) 100-day, (61.16) 200-day
CORN –
September ’26 Corn settled at 445.50 (-3.50) (ZCU26) high of 452.50, low of 445.25. December ’26 Corn (ZCZ26) settled at 468.50 (-3.25). Cash price is 469 (-9)
Corn closed below trendline support and the 10 DMA today. Corn exports for old crop corn were 362k mt, while new crop exports were 1 mmt. Corn exports are lagging over 10% behind the 4-week average. The next support for December corn is 452.
ZCU26 Moving Averages – (453) 5-day, (446) 20-day, (440) 50-day, (456) 100-day, (453) 200-day
ZCZ26 Moving Averages – (476) 5-day, (468) 20-day, (460) 50-day, (473) 100-day, (467) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 663.50 (+2.75), with a high of 686.50, low of 658.25. December ‘26 Wheat (ZWZ26) settled at 681.25 (+3.50). Chicago Wheat has a cash price of 630 (-1). September KC Wheat (KEU26) settled at 731 (+5.50)
December wheat made a high today at 703 but faded as the day went on. Wheat exports were 285k for 2026/27. Overnight Russia restricted truck deliveries at 3 grain terminals. Hot and dry weather in the Plains is also helping support the market.
ZWU26 Moving Averages – (665) 5-day, (654) 20-day, (630) 50-day, (631) 100-day, (599) 200-day
ZWZ26 Moving Averages – (682) 5-day, (670) 20-day, (647) 50-day, (648) 100-day, (617) 200-day
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