SOYBEANS–
Soybeans were 5 cents lower in the overnight session and continued lower today. There’s some profit taking happening in beans after the rally last week. Brazil is expected to have a huge crop. Harvest is 16% complete. And the largest growing region, Mato Grasso, is well-ahead of the average harvesting pace at nearly 40% complete. Brazil’s production estimate was raised 1.4 mmt above last month. US export inspections were 41.744 mb for the week ending February 5.
March Soybeans (ZSH26) settled at 1110 (-4), high of 1116, low of 1106. May ’26 Soybeans (ZSK26) settled at 1125 (-3), high of 1129, low of 1120. Cash price is at 1089 (+3)
March Bean Meal (ZMH26) settled at 297.8 (-5.8) high of 302.3, low of 296.9
March Bean Oil (ZLH26)) settled at 56.69 (+1.36) high of 56.75, low of 55.50
Meal to Oil ratio (51.325% Meal – 48.675% Oil)
ZSH26 Moving Averages – (1099) 5-day, (1069) 20-day, (1079) 50-day, (1083) 100-day, (1070) 200-day
ZSHK6 Moving Averages – (1112) 5-day, (1081) 20-day, (1090) 50-day, (1095) 100-day, (1082) 200-day
ZMH26 Moving Averages – (298.5) 5-day, (295.1) 20-day, (302.5) 50-day, (303.4) 100-day, (302.6) 200-day
ZLH26 Moving Averages – (55.56) 5-day, (53.68) 20-day, (51.66) 50-day, (51.44) 100-day, (51.80) 200-day
CORN –
March ’26 Corn settled at 428 (-1) (ZCH26) high of 430, low of 427. May ’26 Corn (ZCH26) settled at 437 (-1). Cash price is 429 (-4)
Corn was down 1 ¾ cents today and was slightly lower again during today’s session. Brazil’s corn planting is at 28% complete. Brazil’s exports are 18% above this month last year. Corn has lots of resistance above where it’s trading now due to the sell-off after the January report. If corn trades lower after tomorrow’s report, then demand should continue to be strong. Export inspections were 51.485 mb for the week ending February 5.
ZCH26 Moving Averages – (430) 5-day, (426) 20-day, (437) 50-day, (438) 100-day, (441) 200-day
ZCK26 Moving Averages – (438) 5-day, (434) 20-day, (445) 50-day, (447) 100-day, (450) 200-day
WHEAT –
March Chicago Wheat (ZWH26) settled at 528 (-1), with a high of 531, low of 525. May ‘26 Wheat (ZWK26) settled at 538 (-0.25). Chicago Wheat has a cash price of 523 (-5). March KC Wheat (KEH5) settled at 528 (-2).
Wheat was down 1 ¾ cents in the overnight session and was slightly lower during today’s session. Wheat continues to trade closely with corn. Funds lowered their net short position in wheat for the second week in a row. Export inspections were 21.316 mb for the week ending February 5. Wheat exports are up 18% y/o/y, which is a 9-year high.
ZWH26 Moving Averages – (529) 5-day, (523) 20-day, (522) 50-day, (530) 100-day, (552) 200-day
ZWK26 Moving Averages – (539) 5-day, (533) 20-day, (532) 50-day, (540) 100-day, (563) 200-day
If you’re ready to start trading, click the link below to open an account with Walsh Trading, Inc.
Hans Schmit
Broker, Pure Hedge Division
312-765-7311
hschmit@walshtrading.com
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.