SOYBEANS–
November beans made a high at 1207 ¼ today but faded the rest of the day. The high in November beans on Friday was 1199. The next resistance is the previous high at 1214. On Friday, new crop ending stocks were unchanged at 310 mb. Old crop ending stocks were cut 10 mb to 330 mb. World ending stocks for 2026-27 were cut from 124.88 mmt in June to 124.17.
September ’26 Soybeans (ZSU26) settled at 1184.25 (+3), high of 1197.50, low of 1182.50. November Soybeans (ZSX26) settled at 1193.50 (+2.75), high of 1207.25, low of 1191.25. Cash price is at 1185 (+14)
September Bean Meal (ZMU26) settled at 314.3 (-2.90) high of 321.5, low of 313.8
September Bean Oil (ZLK26) settled at 72.04 (+2.12) high of 72.51, low of 70.32
Meal to Oil ratio (47.625% Meal – 52.375% Oil)
ZSU26 Moving Averages – (1181) 5-day, (1145) 20-day, (1159) 50-day, (1153) 100-day, (1119) 200-day
ZSX26 Moving Averages – (1191) 5-day, (1158) 20-day, (1169) 50-day, (1157) 100-day, (1122) 200-day
ZMU26 Moving Averages – (305.5) 5-day, (311.5) 20-day, (312.7) 50-day, (312.7) 100-day, (313.9) 200-day
ZLU26 Moving Averages – (70.02) 5-day, (68.73) 20-day, (71.04) 50-day, (67.74) 100-day, (59.76) 200-day
CORN –
September ’26 Corn settled at 440.75 (+1.25) (ZCU26) high of 447.50, low of 440.25. December ’26 Corn (ZCZ26) settled at 463 (+2). Cash price is 452 (+8)
There’s been lots movement in the price of corn recently. After making a low at 425 ¾ at the end of June corn is already back into the previous trading range. On Friday’s report, new crop ending stocks were cut from 1.960 bb to 1.79 bb. World ending stocks for new crop were cut from 281.22 mmt to 275.26 mmt.
ZCU26 Moving Averages – (438) 5-day, (426) 20-day, (448) 50-day, (456) 100-day, (452) 200-day
ZCZ26 Moving Averages – (459) 5-day, (445) 20-day, (466) 50-day, (473) 100-day, (467) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 635.25 (-5.50), with a high of 653, low of 633.50. December ‘26 Wheat (ZWZ26) settled at 650.75 (-3.75). Chicago Wheat has a cash price of 637 (+21). September KC Wheat (KEU26) settled at 667.50 (-8.75)
Wheat was lower with corn and beans higher on the day. On Friday’s report, the USDA cut all wheat production from 1.543 bb to 1.536 bb. Old and new crop ending stocks were both cut. New crop ending stocks were cut from 744 mb to 722 mb.
ZWU26 Moving Averages – (624) 5-day, (606) 20-day, (625) 50-day, (621) 100-day, (592) 200-day
ZWZ26 Moving Averages – (639) 5-day, (622) 20-day, (643) 50-day, (639) 100-day, (610) 200-day
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