SOYBEANS–
November soybeans made a high at 1156 ½ this morning before fading the rest of the day. The Crop Progress report yesterday showed conditions declining in Iowa and Illinois by 3 points each. Missouri also had unfavorable conditions. July soybean oil is at key support now after falling from its high at 79.69.
July ’26 Soybeans (ZSN26) settled at 1129.50 (+10.25), high of 1138.5, low of 1107.5. November Soybeans (ZSX26) settled at 1145.50 (+10.75), high of 1156.5, low of 1124. Cash price is at 1104 (+6)
July Bean Meal (ZMK26) settled at 304.9 (+2.90) high of 305.2, low of 300.3
July Bean Oil (ZLK26) settled at 72.90 (-1.47) high of 74.69, low of 72.67
Meal to Oil ratio (45.525% Meal – 54.475% Oil)
ZSN26 Moving Averages – (1120) 5-day, (1156) 20-day, (1178) 50-day, (1171) 100-day, (1137) 200-day
ZSX26 Moving Averages – (1137) 5-day, (1164) 20-day, (1167) 50-day, (1146) 100-day, (1115) 200-day
ZMN26 Moving Averages – (302.3) 5-day, (317.9) 20-day, (321.5) 50-day, (318.0) 100-day, (315.5) 200-day
ZLN26 Moving Averages – (74.27) 5-day, (75.47) 20-day, (73.27) 50-day, (67.56) 100-day, (59.59) 200-day
CORN –
July ’26 Corn settled at 413.75 (-1.25) (ZCN26) high of 421, low of 412.5. December ’26 Corn (ZCZ26) settled at 443.25 (+1.50). Cash price is 425 (-40)
Corn has held up well despite the significant break in crude. Corn conditions were worse in Iowa, Illinois, and Nebraska this week. Corn conditions in the major growing states are mostly below last year’s good/excellent ratings at this time.
ZCN26 Moving Averages – (414) 5-day, (437) 20-day, (455) 50-day, (456) 100-day, (455) 200-day
ZCZ26 Moving Averages – (442) 5-day, (463) 20-day, (477) 50-day, (475) 100-day, (468) 200-day
WHEAT –
July Chicago Wheat (ZWN26) settled at 595.75 (+6), with a high of 604.25, low of 582.75. December ‘26 Wheat (ZWZ26) settled at 622.25 (+5.50) Chicago Wheat has a cash price of 587 (+4). July KC Wheat (KEN5) settled at 633.50 (-6.50)
Chicago wheat was higher with the other grains today but KC was lower. Winter wheat conditions were mostly improved on this week’s report. Montana and Colorado saw big increases to their good/excellent ratings, while Washington saw a 3-point decline. Ratings for poor/very poor wheat areas were mostly declining, with Kansas and Washington ratings unchanged.
ZWN26 Moving Averages – (588) 5-day, (609) 20-day, (617) 50-day, (601) 100-day, (576) 200-day
ZWZ26 Moving Averages – (616) 5-day, (640) 20-day, (649) 50-day, (632) 100-day, (607) 200-day
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