SOYBEANS–
Soybeans were lower again today, with rain and cooler weather in the forecast. The next area of support for soybeans is 1170.
September ’26 Soybeans (ZSU26) settled at 1174.75 (-30), high of 1209.75, low of 1173.50. November Soybeans (ZSX26) settled at 1191.50 (-28.50), high of 1225, low of 1190. Cash price is at 1205 (+4)
September Bean Meal (ZMU26) settled at 318.50 (-2.80) high of 322.4, low of 315
September Bean Oil (ZLK26) settled at 68.65 (-1.49) high of 71.11, low of 68.5
Meal to Oil ratio (47.525% Meal – 52.475% Oil)
ZSU26 Moving Averages – (1210) 5-day, (1190) 20-day, (1164) 50-day, (1162) 100-day, (1127) 200-day
ZSX26 Moving Averages – (1224) 5-day, (1202) 20-day, (1176) 50-day, (1168) 100-day, (1131) 200-day
ZMU26 Moving Averages – (323.8) 5-day, (317.6) 20-day, (313.0) 50-day, (313.5) 100-day, (315.1) 200-day
ZLU26 Moving Averages – (71.56) 5-day, (70.96) 20-day, (71.15) 50-day, (69.17) 100-day, (61.07) 200-day
CORN –
September ’26 Corn settled at 448.50 (-10) (ZCU26) high of 461.75, low of 448. December ’26 Corn (ZCZ26) settled at 471 (-9.50). Cash price is 478 (+6)
December corn traded lower today along with the beans. The $5 gain in crude oil today failed to help corn. The Mexican border reopening could be supportive going forward as more cattle come through.
ZCU26 Moving Averages – (457) 5-day, (445) 20-day, (441) 50-day, (456) 100-day, (453) 200-day
ZCZ26 Moving Averages – (480) 5-day, (466) 20-day, (461) 50-day, (474) 100-day, (467) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 660 (-2.50), with a high of 672.25, low of 658.25. December ‘26 Wheat (ZWZ26) settled at 676.75 (-3). Chicago Wheat has a cash price of 632 (+2). September KC Wheat (KEU26) settled at 726 (-.25)
Corn and soybeans were being sold today, but wheat held up well. 660 is proving to be a strong level of support for wheat. The next resistance for wheat is 678.
ZWU26 Moving Averages – (671) 5-day, (651) 20-day, (630) 50-day, (630) 100-day, (598) 200-day
ZWZ26 Moving Averages – (688) 5-day, (667) 20-day, (647) 50-day, (648) 100-day, (616) 200-day
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Hans Schmit
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hschmit@walshtrading.com
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