SOYBEANS–
July soybeans finished the day lower after making a high at 1193 ½ in the overnight session. July was down 9 ½ cents in the overnight session. Soybeans will likely continue to be volatile; however, I don’t think there’s any reason soybeans should be trading this high. If July soybeans fail to hold support at 1171, then look out below. A new leg lower could be ahead.
July ’26 Soybeans (ZSN26) settled at 1185.50 (-11), high of 1193.50, low of 1184.50. November Soybeans (ZSX26) settled at 1179.50 (-8.50), high of 1186.50, low of 1178. Cash price is at 1173 (+2)
July Bean Meal (ZMK26) settled at 328.6 (-3.3) high of 331.9, low of 328.1
July Bean Oil (ZLK26) settled at 74.29 (+.31) high of 74.4, low of 72.99
Meal to Oil ratio (46.925% Meal – 53.075% Oil)
ZSN26 Moving Averages – (1197) 5-day, (1202) 20-day, (1189) 50-day, (1161) 100-day, (1133) 200-day
ZSX26 Moving Averages – (1190) 5-day, (1186) 20-day, (1165) 50-day, (1133) 100-day, (1108) 200-day
ZMN26 Moving Averages – (330.4) 5-day, (326.6) 20-day, (322.6) 50-day, (316.8) 100-day, (315.3) 200-day
ZLN26 Moving Averages – (74.45) 5-day, (74.61) 20-day, (70.55) 50-day, (63.96) 100-day, (57.89) 200-day
CORN –
July ’26 Corn settled at 458 (-5.25) (ZCN26) high of 463, low of 456.50. December ’26 Corn (ZCZ26) settled at 482.50 (-4). Cash price is 473 (+1)
Corn was lower with the other grains during today’s session. Corn may see more temporary weakness if crude continues to break. Export demand should pick up on further weakness. There was a 493k mt flash sale for delivery to Mexico on Friday, in addition to a 110k flash sale to an unknown country.
ZCN26 Moving Averages – (464) 5-day, (472) 20-day, (467) 50-day, (458) 100-day, (456) 200-day
ZCZ26 Moving Averages – (488) 5-day, (493) 20-day, (487) 50-day, (475) 100-day, (467) 200-day
WHEAT –
July Chicago Wheat (ZWN26) settled at 635 (-11.25), with a high of 645.25, low of 634.75. December ‘26 Wheat (ZWZ26) settled at 669 (-10). Chicago Wheat has a cash price of 638 (-1). July KC Wheat (KEN5) settled at 676.75 (-5.25)
Wheat was lower today, along with crude oil. Today, Iran accused the US of a “grave violation” of the ceasefire. July wheat closed below support at 636 today.
ZWN26 Moving Averages – (651) 5-day, (645) 20-day, (622) 50-day, (592) 100-day, (574) 200-day
ZWZ26 Moving Averages – (684) 5-day, (679) 20-day, (654) 50-day, (623) 100-day, (605) 200-day
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.