SOYBEANS–
There was another flash sale to China this morning this time for 202k mt. Demand from China has been very strong recently, if it continues the USDA may decide to raise their export forecast.
November’26 Soybeans (ZSX26) settled at 1308.75 (-9), high of 1324, low of 1300. January ‘27 Soybeans (ZSF27) settled at 1323.50 (-9.25), high of 1338.75, low of 1315.5. Cash price is at 1308 (+32)
December Bean Meal (ZMU26) settled at 349.6 (-2.70) high of 354.4, low of 345.1
December Bean Oil (ZLK26) settled at 70.96 (-1.69) high of 73, low of 70.77
Meal to Oil ratio (49.25% Meal – 50.75% Oil)
ZSX26 Moving Averages – (1294) 5-day, (1230) 20-day, (1206) 50-day, (1186) 100-day, (1148) 200-day
ZSF27 Moving Averages – (1309) 5-day, (1245) 20-day, (1220) 50-day, (1200) 100-day, (1160) 200-day
ZMZ26 Moving Averages – (347.5) 5-day, (327.3) 20-day, (321.3) 50-day, (318.1) 100-day, (317.9) 200-day
ZLZ26 Moving Averages – (70.86) 5-day, (69.35) 20-day, (69.03) 50-day, (68.87) 100-day, (62.33) 200-day
CORN –
December’26 Corn settled at 543.5 (-3.50) (ZCU26) high of 549.75, low of 536. March ’27 Corn (ZCZ26) settled at 557 (-3.25). Cash price is 542 (+10)
Corn made a high at 549 ¾ before reversing lower. There has been some talk from market analysts about $7 corn, even though corn has yet to hit $6. The next WASDE report is scheduled for September 11.
ZCZ26 Moving Averages – (539) 5-day, (502) 20-day, (477) 50-day, (476) 100-day, (471) 200-day
ZCH27 Moving Averages – (553) 5-day, (517) 20-day, (493) 50-day, (491) 100-day, (485) 200-day
WHEAT –
December Chicago Wheat (ZWZ26) settled at 774 (-7.75), with a high of 795, low of 764.5. March ‘27 Wheat (ZWZ26) settled at 790.25 (-6.25). Chicago Wheat has a cash price of 738 (+23). December KC Wheat (KEZ26) settled at 834.25 (-9.50)
Wheat pulled back today along with the other grains. KC was down more than Chicago. The war in Ukraine is intensifying with Germany now being threatened. December Chicago wheat has resistance at 795.
ZWZ26 Moving Averages – (775) 5-day, (706) 20-day, (677) 50-day, (663) 100-day, (630) 200-day
ZWH27 Moving Averages – (790) 5-day, (723) 20-day, (692) 50-day, (679) 100-day, (645) 200-day
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