SOYBEANS–
November soybeans finished the day positive but still have resistance above at 1140. Friday’s COT showed funds selling the soybean complex. Funds sold 65k contracts of beans, 74k contracts of meal, and nearly 25k contracts of bean oil. July bean oil closed positive, while December bean oil finished lower on the day.
July ’26 Soybeans (ZSN26) settled at 1118.75 (+5.25), high of 1119.75, low of 1102.5 November Soybeans (ZSX26) settled at 1134.50 (+2.50), high of 1136.5, low of 1121.75. Cash price is at 1098 (-2)
July Bean Meal (ZMK26) settled at 302.3 (+1.00) high of 303.9, low of 300.5
July Bean Oil (ZLK26) settled at 74.39 (+.11) high of 74.37, low of 72.37
Meal to Oil ratio (44.825% Meal – 55.175% Oil)
ZSN26 Moving Averages – (1116) 5-day, (1160) 20-day, (1179) 50-day, (1170) 100-day, (1137) 200-day
ZSX26 Moving Averages – (1134) 5-day, (1166) 20-day, (1168) 50-day, (1145) 100-day, (1114) 200-day
ZMN26 Moving Averages – (301.6) 5-day, (319.4) 20-day, (321.7) 50-day, (318.0) 100-day, (315.5) 200-day
ZLN26 Moving Averages – (74.67) 5-day, (75.61) 20-day, (73.20) 50-day, (67.38) 100-day, (59.49) 200-day
CORN –
July ’26 Corn settled at 415.5 (+2.75) (ZCN26) high of 416.75, low of 406.25. December ’26 Corn (ZCZ26) settled at 441.50 (+1.25). Cash price is 466 (+45)
The ceasefire deal and favorable weather pressured the grain in the overnight session. December corn finished slightly higher on the day even with the break in crude. Crude is at its lowest level since early March. Corn still has resistance above at 442 then 470.
ZCN26 Moving Averages – (415) 5-day, (440) 20-day, (456) 50-day, (456) 100-day, (455) 200-day
ZCZ26 Moving Averages – (442) 5-day, (466) 20-day, (478) 50-day, (475) 100-day, (468) 200-day
WHEAT –
July Chicago Wheat (ZWN26) settled at 590 (+5.80), with a high of 591, low of 571. December ‘26 Wheat (ZWZ26) settled at 616.75 (+4.75) Chicago Wheat has a cash price of 583 (+41). July KC Wheat (KEN5) settled at 641.50 (+7)
Wheat led the grains higher, fading the move in crude. Temperatures have been hot since the last Crop Progress report. The market may be expecting the conditions report to come out friendly. Friday’s COT showed funds holding a 4k short position in KC wheat and a 80k short position in Chicago wheat.
ZWN26 Moving Averages – (586) 5-day, (612) 20-day, (618) 50-day, (600) 100-day, (576) 200-day
ZWZ26 Moving Averages – (615) 5-day, (644) 20-day, (650) 50-day, (631) 100-day, (607) 200-day
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