6/11/2025
Settlement : 28½
Day’s Range : High 35, Low 28½
52-Week Range : High +37¼, Low 4¾
Last week I wrote about possibly looking for opportunities to start buying the SEPT’25 over/minus DEC’25 Corn Spread (ZCU25-ZCZ25) near -18 and to possibly start buying the JULY’25 over/minus the DEC’25 Wheat Spread (ZWN25-ZWZ25) near -39.
Today’s suggestion is only for those who were able to get their hands on some of these spreads ….
The JULY’25 over/minus SEPT’25 Soybean Spread (ZSN25-ZSU25) is not far from its 52 week high of 37¼ . It has flirted with this level a few times in 2025, but seems to turnaround when it gets near there.
It traded as high as 35 today, but near the later part of the session, it slipped down to its lows of 28¼.
Today’s thoughts are only if you are still long the Corn Spreads (ZCU25-ZCZ25) and/or the Wheat Spreads (ZWN25-ZWZ25) and like the idea of putting on a partial hedge.
It might not be a bad idea to hedge your longs in the Corn and Wheat spreads by selling half as many of the Soybean Spreads (ZSN25-ZSU25), if they get near today’s high of 35. I am by no means suggesting to sell the Soybean Spread as an initial position.
I you have the Corn and/or Wheat Spreads on, I would suggest selling half as many of Soybean Spreads at 36.
Risk 4 cents (40) or $200 Per Spread to make 12 cents (24) or $600, plus fees and commissions.
For the Soybean Spread Mini :
Risk 4 cents (40) or $40 Per Spread to make 12 cents $120, plus fees and commissions.
If you have any thoughts/questions on this article or any questions in regard to the commodities futures markets, please feel free to contact me at;
Rich Moran
Senior Commodities Broker
Direct: (312)985-0298
Cell: (773)502-5321
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