Walsh Pure Technicals

Soybeans

May ‘26

1160 ½, -8

14-day high: 1238 ¾ 

14-day low: 1145 ¼ 

Soybeans pulled back from the high at 1238 ¾ last Thursday, finding support at the 50-day moving average. On the weekly chart, soybeans have support at the 8-week moving average. There was ending of the week selling today in soybeans. Soybean meal and soybean oil were also lower. Both crush products have been rallying lately. I believe there’s still upside in soybean oil, while meal may has room to move lower. 

RSI: Neutral

MACD: Buy

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Corn

May ‘26

466 ¼, -3 ½  

14-day high: 476

14-day low: 440 ¼ 

May corn tagged the 14-day moving average on Wednesday, with the 21 and 50-day moving average stacked below. Corn has built a nice base and may be gearing for another leg higher. Corn may see continued buying from fund managers and traders looking for an inflation trade or hedge against uncertain equity markets. Downside is still likely limited because of large demand for US corn. Corn has good support at 448. Resistance is the previous high for the move at 476.

RSI: Buy

MACD: Buy

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Wheat

May ‘26

595 ¾, -12 ¼  

14-day high: 641 ¾ 

14-day low: 564 ½ 

There was profit taking in wheat today, but May wheat is still holding support on the daily chart. The 14, 21, and 50-day moving averages are stacked and there’s trendline support at 594. The weekly chart looks similar to corn, with the potential for a base breakout. Wheat has rallied hard with crude in the past and that trade may not be over. Wheat is also seeing some weather premium due to dryness in the plains. May wheat has resistance at 616. 

RSI: Buy

MACD: Buy

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Now is a great time to hedge your grain if you’re a producer. The rally in the grains may continue, but I still recommend hedging a piece up here. If crude oil reverses and funds start taking profits, the grains can move lower in a hurry. The Prospective Plantings and Grain Stocks reports will be out at the end of the month and will likely bring some volatility. I recommend buying your options now. Contact me for ideas specific to your operation.

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Consider the following opportunities: 

FUTURES SPREADS

SELL the JULY-DECEMBER ’26 CHICAGO WHEAT SPREAD

PRICE: 31.00

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SELL the MAY-JULY ’26 CRUDE OIL SPREAD

PRICE: 7.15

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BUY the SEPTEMBER-DECEMBER ’26 SOYBEAN OIL SPREAD

PRICE: 1.27

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SELL the JULY-DECEMBER ’26 SOYBEAN MEAL SPREAD

PRICE: 6.00

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If you don't like the customer service or personal attention you are receiving from your broker, you have options, and you don't have to stay there. I can have your new account open quickly. Call me anytime 312-765-7311.

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Having a Trading or Hedging Account is essential for your business to be successful. Market volatility has increased across all commodities over the last 12 months, and 2026 has already had a volatile start. Opening an account in the future, will not help you if you need access now. To be successful, you need to be able to manage risk in real time. If you are proactive now, you will have the ability to be reactive when you need to be. You can be prepared and patient at the same time. Call me or hit the direct link above.

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Hans Schmit
Broker, Pure Hedge Division 
312-765-7311
hschmit@walshtrading.com

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