SOYBEANS–
Soybean export sales were strong this morning at over 455k mt for 2025/26. Export sales for the week ending June 18 were up 7% from last week and up 50% from the 4-week average. November beans closed above the 14 and 21 DMA today. There is a big report day on Tuesday for the grains. The markets will likely continue to be volatile until then.
August ’26 Soybeans (ZSN26) settled at 1137 (+20), high of 1140, low of 1112. November Soybeans (ZSX26) settled at 1157 (+22), high of 1160, low of 1130. Cash price is at 1098 (-9)
August Bean Meal (ZMQ26) settled at 306 (+4.00) high of 306.8, low of 302.5
August Bean Oil (ZLK26) settled at 69.54 (+1.29) high of 69.61, low of 67.55
Meal to Oil ratio (46.45% Meal – 53.45% Oil)
ZSQ26 Moving Averages – (1125) 5-day, (1139) 20-day, (1170) 50-day, (1167) 100-day, (1133) 200-day
ZSX26 Moving Averages – (1143) 5-day, (1150) 20-day, (1167) 50-day, (1149) 100-day, (1117) 200-day
ZMQ26 Moving Averages – (302.2) 5-day, (309.8) 20-day, (319.3) 50-day, (317.9) 100-day, (315.4) 200-day
ZLQ26 Moving Averages – (68.98) 5-day, (72.86) 20-day, (72.13) 50-day, (67.39) 100-day, (59.45) 200-day
CORN –
September ’26 Corn settled at 424 (+8) (ZCN26) high of 425, low of 412. December ’26 Corn (ZCZ26) settled at 443 (+8). Cash price is 419 (-2)
Corn sales this morning were disappointing at only 743k mt for 2025/26. Exports were down 36% from last week and 27% from the 4-week average. Weather for corn has been favorable so far. Friendly reports are likely needed on Tuesday to avoid making new lows.
ZCU26 Moving Averages – (420) 5-day, (431) 20-day, (456) 50-day, (458) 100-day, (454) 200-day
ZCZ26 Moving Averages – (439) 5-day, (450) 20-day, (473) 50-day, (474) 100-day, (467) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 601 (-1), with a high of 602, low of 590. December ‘26 Wheat (ZWZ26) settled at 618 (+5) Chicago Wheat has a cash price of 584 (-1). September KC Wheat (KEU26) settled at 630 (+5)
Wheat exports were 504k mt for 2026/27. There are drought concerns building in Europe following unusually hot and dry weather. Russia’s production estimate was lowered nearly 1.5 mmt for 2026/27
ZWU26 Moving Averages – (634) 5-day, (643) 20-day, (673) 50-day, (646) 100-day, (606) 200-day
ZWZ26 Moving Averages – (649) 5-day, (658) 20-day, (688) 50-day, (663) 100-day, (624) 200-day
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.