SOYBEANS–
July beans were up 3 ½ cents in the overnight session and continued higher during today’s session. Soybeans were unable to trade above resistance at 1200, making a high at 1198 ¼. Soybean oil continues to be very strong, which helps soybeans chances of moving higher. November soybeans have resistance at 1175.
July ’26 Soybeans (ZSN26) settled at 1197.75 (+8.50), high of 1198.25, low of 1187. November Soybeans (ZSX26) settled at 1167.75 (+2), high of 1168.50, low of 1159. Cash price is at 1152 (-4)
July Bean Meal (ZMK26) settled at 324.1 (-3.30) high of 331.1, low of 322.3
July Bean Oil (ZLK26) settled at 74.25 (+1.73) high of 74.25, low of 72.33
Meal to Oil ratio (46.55% Meal – 53.45% Oil)
ZSN26 Moving Averages – (1186) 5-day, (1182) 20-day, (1184) 50-day, (1143) 100-day, (1121) 200-day
ZSX26 Moving Averages – (1163) 5-day, (1156) 20-day, (1145) 50-day, (1114) 100-day, (1096) 200-day
ZMN26 Moving Averages – (322.9) 5-day, (321.6) 20-day, (319.5) 50-day, (314.8) 100-day, (313.1) 200-day
ZLN26 Moving Averages – (72.14) 5-day, (69.32) 20-day, (66.39) 50-day, (59.64) 100-day, (56.05) 200-day
CORN –
July ’26 Corn settled at 478 (+2.50) (ZCN26) high of 479, low of 474. December ’26 Corn (ZCZ26) settled at 497.75 (+2. Cash price is 469 (+4)
Corn was up 1 ¼ cents in the overnight session and higher again today. December corn made a high at 499 ½ today but was unable to trade above the psychological resistance at 500. The inflation trade seems to be on given the rally in wheat, crude, and cattle. Crude oil is back over 100.
ZCN26 Moving Averages – (470) 5-day, (461) 20-day, (462) 50-day, (456) 100-day, (454) 200-day
ZCZ26 Moving Averages – (490) 5-day, (480) 20-day, (479) 50-day, (469) 100-day, (464) 200-day
WHEAT –
July Chicago Wheat (ZWN26) settled at 653 (-4.75), with a high of 671.50, low of 652.25. December ‘26 Wheat (ZWZ26) settled at 686.75 (-2.25). Chicago Wheat has a cash price of 651 (+27). July KC Wheat (KEN5) settled at 704.25 (+2)
July wheat finished the day lower after making a high at 671 ½ this morning. Wheat was up 5 ½ cents in the overnight session. KC wheat saw a similar sell off to Chicago this morning. July Chicago wheat held support at 650 so a move higher is still possible
ZWN26 Moving Averages – (635) 5-day, (609) 20-day, (604) 50-day, (573) 100-day, (569) 200-day
ZWZ26 Moving Averages – (667) 5-day, (640) 20-day, (634) 50-day, (604) 100-day, (600) 200-day
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