SOYBEANS–
Soybeans finished the day higher today after a sharp sell-off yesterday. Crop progress came out bullish yesterday afternoon. Soybean conditions were down 3 points W/OW to 63% good/excellent. Soybean conditions in Missouri improved 5 points ahead of last week. Meal finished the day higher, while soybean oil was lower.
September ’26 Soybeans (ZSU26) settled at 1204 (+4.25), high of 1209.50, low of 1193. November Soybeans (ZSX26) settled at 1219.75 (+6), high of 1225, low of 1206.25. Cash price is at 1201 (-40)
September Bean Meal (ZMU26) settled at 320.9 (+0.60) high of 323.3, low of 318.6
September Bean Oil (ZLK26) settled at 70.36 (-.49) high of 71.1, low of 69.59
Meal to Oil ratio (47.525% Meal – 52.475% Oil)
ZSU26 Moving Averages – (1220) 5-day, (1188) 20-day, (1164) 50-day, (1161) 100-day, (1127) 200-day
ZSX26 Moving Averages – (1234) 5-day, (1200) 20-day, (1176) 50-day, (1168) 100-day, (1130) 200-day
ZMU26 Moving Averages – (326.2) 5-day, (316.8) 20-day, (313.0) 50-day, (313.4) 100-day, (315) 200-day
ZLU26 Moving Averages – (72.74) 5-day, (70.85) 20-day, (71.20) 50-day, (69.12) 100-day, (60.98) 200-day
CORN –
September ’26 Corn settled at 458.75 (+7) (ZCU26) high of 462.25, low of 451.50. December ’26 Corn (ZCZ26) settled at 480 (+6). Cash price is 471 (+7)
December corn made a high at 484 ¼ this morning but faded the rest of the day. Corn ratings also came out somewhat bullish. Corn was rated 63% good/excellent, down 4 points from the week prior. Last year at this time corn was rated 73% good/excellent.
ZCU26 Moving Averages – (460) 5-day, (443) 20-day, (441) 50-day, (456) 100-day, (453) 200-day
ZCZ26 Moving Averages – (482) 5-day, (464) 20-day, (461) 50-day, (474) 100-day, (467) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 664.75 (+4.75), with a high of 665.75, low of 650.50. December ‘26 Wheat (ZWZ26) settled at 681.75 (+4.25). Chicago Wheat has a cash price of 629 (-18). September KC Wheat (KEU26) settled at 728.75 (-.25)
Winter wheat harvest improved to 81% complete, close to last year’s pace and the 10-year average. Spring wheat is 2% harvested, and conditions were rated 53% good/excellent. Wheat has been able to find decent support after making a high at 728 ¼. The uptrend in wheat may continue, with logistics disruptions impacting the market.
ZWU26 Moving Averages – (680) 5-day, (648) 20-day, (630) 50-day, (630) 100-day, (598) 200-day
ZWZ26 Moving Averages – (697) 5-day, (663) 20-day, (647) 50-day, (648) 100-day, (616) 200-day
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Hans Schmit
Broker, Pure Hedge Division
312-765-7311
hschmit@walshtrading.com
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