SOYBEANS–
Soybeans finished the day higher with September leading the November issue up. Yesterday’s Acreage report estimated acreage just below the average trade guess, however the USDA also reported 8.05 million acres left to be planted. Despite the higher close soybeans were unable to make a move above yesterday’s high. The next resistance for November beans is 1153.
August ’26 Soybeans (ZSQ26) settled at 1133.50 (+9.25), high of 1140.75, low of 1120.25. November Soybeans (ZSX26) settled at 1149.50 (+5.75), high of 1161.25, low of 1139.25. Cash price is at 1110 (+13)
August Bean Meal (ZMQ26) settled at 306.1 (+2.20) high of 306.2, low of 303.2
August Bean Oil (ZLK26) settled at 66.74 (-.19) high of 67.13, low of 65.59
Meal to Oil ratio (47.8% Meal – 52.2% Oil)
ZSQ26 Moving Averages – (1130) 5-day, (1128) 20-day, (1166) 50-day, (1168) 100-day, (1134) 200-day
ZSX26 Moving Averages – (1149) 5-day, (1142) 20-day, (1166) 50-day, (1152) 100-day, (1118) 200-day
ZMQ26 Moving Averages – (304.6) 5-day, (304.5) 20-day, (314.0) 50-day, (315.2) 100-day, (314.7) 200-day
ZLQ26 Moving Averages – (68.37) 5-day, (71.20) 20-day, (72.22) 50-day, (67.90) 100-day, (59.78) 200-day
CORN –
September ’26 Corn settled at 423.75 (+7) (ZCU26) high of 424.75, low of 415.75. December ’26 Corn (ZCZ26) settled at 443 (+7). Cash price is 428 (+10)
Corn was also higher today following yesterday’s crop reports. 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. Corn has some work to do to get back into the previous trading range. It’s a weather market from here, and the heat dome should be supportive.
ZCU26 Moving Averages – (419) 5-day, (423) 20-day, (453) 50-day, (457) 100-day, (453) 200-day
ZCZ26 Moving Averages – (438) 5-day, (442) 20-day, (470) 50-day, (473) 100-day, (467) 200-day
WHEAT –
September Chicago Wheat (ZWU26) settled at 601 (+11.75), with a high of 608.25, low of 586.50. December ‘26 Wheat (ZWZ26) settled at 614.75 (+10.25) Chicago Wheat has a cash price of 583 (+12). September KC Wheat (KEU26) settled at 616 (+11)
Yesterday’s crop reports came out friendly for wheat, and the market’s reaction was bullish yesterday and today. The grains may see some new fund buying after yesterday. The next resistance for December wheat is 624, which is the 50 DMA. Unlike soybeans, wheat closed above yesterday’s high and right at the 14 DMA.
ZWU26 Moving Averages – (592) 5-day, (598) 20-day, (628) 50-day, (617) 100-day, (591) 200-day
ZWZ26 Moving Averages – (608) 5-day, (615) 20-day, (647) 50-day, (635) 100-day, (608) 200-day
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