Tidbits, Q&A: Put Options & Soybean Market, Rigs 6/20/26
- Wright team
- 3 minutes ago
- 4 min read
Tidbits
Baker Hughes reported there were 563 oil and gas drilling rigs in operation last week in the USA. That is 1 more than last week and 9 more than a year ago. Canada had 186 rigs drilling this past week, 6 more than the previous week and 47 more than a year ago!
CGB at Gladstone Bluff, Illinois (on The River) Friday evening compared to last week:
Corn spot delivery: -16N (16 under July), 2¢ weaker = $4.02
Fall delivery: -32Z (32 under December), steady = $4.12
Soybean spot delivery: -32N, steady = $10.91
Fall delivery: -46X (46 under November), steady = $10.97
Q&A: Put Options & Soybean Market
Question for Wright on the Market Thursday evening, 18 June 2026 by Rich:
"I was reading your put option lesson 15 and looking at the chart. July 6 2022 the (Sept wheat) price went below $8 three trading days later it was over $9 and looking like it would continue higher. Not knowing the future, one would have probably sold the put options at that point and missed the opportunity to sell the put options a few days later when the price was again below $8. Money would have been made but not as much.
Looking at our November 2026 soybean chart a few days ago, the price was $11.25. Yesterday it was over $11.55. Do we sell our puts now or wait thinking it will be lower a month from now? If weather changes or China starts buying it could continue higher.
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