SOYBEANS–
July beans finished the day close to unchanged while November beans were slightly positive. The latest Crop Progress report shows soybean planting is 79% complete, compared to the 5-year average at 68%. Louisiana leads the way in soybean planting at 95% planted, well-ahead of the 5-year average at 79%. Soybean meal and oil were strong today.
July ’26 Soybeans (ZSN26) settled at 1185.50 (-.50), high of 1191.25, low of 1179.75. November Soybeans (ZSX26) settled at 1181.50 (+1.25), high of 1186, low of 1175. Cash price is at 1163 (-10)
July Bean Meal (ZMK26) settled at 331.1 (+2.50) high of 332.50, low of 327.60
July Bean Oil (ZLK26) settled at 75.16 (+.80) high of 75.42, low of 73.88
Meal to Oil ratio (46.775% Meal – 53.225% Oil)
ZSN26 Moving Averages – (1192) 5-day, (1202) 20-day, (1189) 50-day, (1162) 100-day, (1134) 200-day
ZSX26 Moving Averages – (1186) 5-day, (1187) 20-day, (1166) 50-day, (1134) 100-day, (1109) 200-day
ZMN26 Moving Averages – (330.1) 5-day, (326.7) 20-day, (322.9) 50-day, (317.0) 100-day, (315.5) 200-day
ZLN26 Moving Averages – (74.43) 5-day, (74.75) 20-day, (70.79) 50-day, (64.22) 100-day, (58.00) 200-day
CORN –
July ’26 Corn settled at 452 (-5.50) (ZCN26) high of 459.75, low of 451.75. December ’26 Corn (ZCZ26) settled at 477 (-5). Cash price is 467 (-5)
Corn planting is 86% complete, which is 3 points ahead of the 5-year average pace. The pre-report estimate was 89%. North Carolina leads the other 17 corn growing states at 98% planted. Corn was pressured by the sell-off in crude today. December corn closed at the low of the day, which does not inspire confidence for the rest of the week. If crude continues to break, corn may see further downside in the near-term.
ZCN26 Moving Averages – (460) 5-day, (470) 20-day, (467) 50-day, (458) 100-day, (456) 200-day
ZCZ26 Moving Averages – (484) 5-day, (493) 20-day, (487) 50-day, (475) 100-day, (468) 200-day
WHEAT –
July Chicago Wheat (ZWN26) settled at 621.75 (-13.75), with a high of 638.75, low of 620.75. December ‘26 Wheat (ZWZ26) settled at 654.50 (-14). Chicago Wheat has a cash price of 628 (-10). July KC Wheat (KEN5) settled at 688.25 (-8)
Wheat was lower today with crude and the other grains today. Wheat has now had five days in row of lower trading. July wheat is very extended from it’s 140 and 200 DMA. Winter wheat is 78% headed versus 71% last week and 73% a year ago. Spring wheat is 86% planted, compared to the 5-year average at 79%.
ZWN26 Moving Averages – (642) 5-day, (643) 20-day, (622) 50-day, (593) 100-day, (574) 200-day
ZWZ26 Moving Averages – (675) 5-day, (677) 20-day, (654) 50-day, (624) 100-day, (605) 200-day
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