SOYBEANS–
As predicted, by many analysts, the switch from corn acres to beans wasn’t as dramatic as initially expected. November beans made a high at 1156 ½ following the report but faded the rest of the day. Soybean planted area is estimated at 85.365 ma from the USDA. The average trade estimate was 85.369 ma. The new planted acreage figure was also below the 84.7 ma from March. The USDA also noted 8.05 ma left to be planted. Soybean stocks in all positions were up 5% from last year.
August ’26 Soybeans (ZSN26) settled at 1123.75 (+4.50), high of 1137.75, low of 1106.75. November Soybeans (ZSX26) settled at 1143.50 (+4.50), high of 1139.75, low of 1124.75. Cash price is at 1097 (-19)
August Bean Meal (ZMQ26) settled at 303.7 (-.10) high of 305.2, low of 300.3
August Bean Oil (ZLK26) settled at 66.79 (-2.07) high of 68.9, low of 66
Meal to Oil ratio (47.5% Meal – 52.4% Oil)
ZSQ26 Moving Averages – (1126) 5-day, (1129) 20-day, (1167) 50-day, (1168) 100-day, (1134) 200-day
ZSX26 Moving Averages – (1145) 5-day, (1144) 20-day, (1166) 50-day, (1151) 100-day, (1118) 200-day
ZMQ26 Moving Averages – (303.8) 5-day, (305.3) 20-day, (314.3) 50-day, (315.3) 100-day, (314.7) 200-day
ZLQ26 Moving Averages – (68.66) 5-day, (71.70) 20-day, (72.24) 50-day, (67.80) 100-day, (59.71) 200-day
CORN –
September ’26 Corn settled at 416.75 (+6.5) (ZCU26) high of 422.5, low of 406.25. December ’26 Corn (ZCZ26) settled at 436.50 (+6.50). Cash price is 418 (-10)
December corn made a high at 442 ½ after the report before fading the rest of the day. The USDA estimated planted acreage at 95.343 ma. Corn acreage came in above the average guess and slightly above the USDA’s March figure but 5% below 2025. The USDA reported 1.90 ma are still left to be planted. Corn stocks were up 14 percent in all positions.
ZCU26 Moving Averages – (417) 5-day, (424) 20-day, (454) 50-day, (457) 100-day, (453) 200-day
ZCZ26 Moving Averages – (437) 5-day, (444) 20-day, (471) 50-day, (473) 100-day, (467) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 587.50 (+7.75), with a high of 594.75, low of 574. December ‘26 Wheat (ZWZ26) settled at 603 (+6) Chicago Wheat has a cash price of 571 (-8). September KC Wheat (KEU26) settled at 622.75 (+8)
Wheat also had a bullish reaction to the report. Gains in December KC wheat outpaced Chicago. The average guess was 43.858 ma, but the USDA figure was 42.740 ma. The latest acreage figure was also below March and 6 percent below 2025. Wheat stocks in all positions were up 8 percent from a year ago.
ZWU26 Moving Averages – (591) 5-day, (599) 20-day, (629) 50-day, (617) 100-day, (590) 200-day