JAN-MAR SOYBEAN SPREAD (ZSF27-ZSH27 - JAN-MAR SOYBEAN SPREAD (ZSF27-ZSH27

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RICH MORAN                                                                                                                        8/25/2026

 

JAN-MAR SOYBEAN SPREAD (ZSF27-ZSH27

As I have mentioned, I am a big fan of the Soybean Oil market, especially at these current levels.  My favorite month in the Soybean Oil market is DEC ’26 (ZLZ26).  I have suggested buying ZLZ26 versus JAN ’27 (ZLF27), MAR ’27 (ZLH27) and JUL ’27 (ZLN27).  I think we may have finally hit the bottom today when we made a new monthly low and have bounced back nicely.

The Soybean market itself is still trading not too far below its 52-week highs.  If things happen like China stepping up on its Soybean purchases, the Soybean market may stay up here, but I think there might be a lot of Soybeans around come the end of 2026 and the beginning of 2027.

The JAN-MAR Soybean Spread (ZSF27-ZSH27) has been trading near the bottom of its range and settled again today below both the 14-day and 21-day moving averages.  I think if we get short this spread with a quick stop above both of these moving averages it could be a good risk/reward trade and also make for a nice temporary hedge against our Soybean Oil Spreads.

I suggest that when the market opens this evening, try to sell the JAN-MAR Soybean Spread (ZSF27-ZSH27) at -6 (today’s settlement) or better.  If you are not able to sell it at -6 on the opening, leave a resting (GTC) order in to sell it at that level.  

If you are able to sell this spread, risk 2½ cents or $125 to make 4 cents or $250 Per Spread, plus fees and commissions.

 

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Rich Moran

Senior Commodities Broker

RMoran@walshtrading.com

Direct: (312)985-0298 

 

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