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Thursday, July 9, 2026, 7:30 am

Wednesday was a negative day for our markets.  Harvest corn closed down 8, harvest soybeans closed down 5 1/2, harvest winter wheat closed down 9 1/2 and harvest spring wheat closed down 2 1/2.  In the overnight trade all of our markets remain on the negative side.  Oil closed up $3.08 yesterday at $73.52 per barrel.  It is stronger in trading again this morning with it now priced at $74.10.  Our dollar started out yesterday morning at $0.706 US and it is just a bit lower this morning with it currently valued at $0.705 US.    

New crop soybean prices had reached up to within 10 cents of their calendar year highs yesterday morning before pulling back as the trading day progressed.  The rumoured soybean sales to China this week were confirmed yesterday by the USDA with possibly some disappointment in the marketplace that China did not make larger purchases.  This market is being supported by the current weather environment in the US but it seems to react more quickly to Chinese engagement in the market than anything else at this time.

With prices lower again this morning it seems that the weather forecast has been amended with slightly lower temperatures than previously expected.  Temperatures will remain above average but are roughly three degrees lower on the two week forecast then was reported earlier this week.

With the rise in crude oil prices over the last couple of days it is interesting to see that they have not taken off to the highs made earlier in the current war and also that they have not supported commodity prices at this time.  Although bombings have restarted it seems that they are not going to reach the levels they previously were at.  This has probably kept a lid on the crude oil prices however it is somewhat strange that it has not supported corn or soybean prices at this time. 

There was a study released yesterday showing how input costs for the corn grower in the US are much higher in the US then Brazil.  With US farmers struggling financially this report will most likely be widely talked about and it will be interesting to see what the end result of it will be.