Wednesday was a mostly negative day for our markets. Harvest corn closed down 2 1/2, harvest soybeans closed down 7 1/2, spot winter wheat closed down 8 1/2 and harvest spring wheat closed up 5 1/4. In the overnight trade all of markets are on the negative side. Oil closed up $0.79 yesterday at $91.01 per barrel. It is stronger in trading again this morning with it now priced at $92.23. Our dollar started out yesterday morning at $0.7`18 US and has trended higher since then. This morning it is currently valued at $0.724 US.
Yesterday was a volatile day for our markets. They all started on the negative side, rallied before the noon hour and then pulled back as the trading day progressed. Corn and soybeans both closed roughly in the middle of their trading ranges for the day with winter wheat closing about 20 cents off the high for the day.
The swing in winter wheat prices yesterday occurred with reports that a possible deal was in the works between Russia and Ukraine to open up the Black Sea shipping corridor again. This morning the Russian leader is talking about a potential peace deal and the markets have all pulled back. Whether a deal is made or not will have a significant short and long term effect on the market.
Corn closed lower yesterday for only the 4th time in the last 16 trading sessions. This market remains supported by the potential lower yield this yield in the US and the mixed weather that the maturing crop is receiving. Ethanol production decreased slightly week to come in at 1.110 million barrels per day. This is 3.7% higher than the same week last year. We should note that with the run up in corn prices the ethanol production margin has significantly decreased in the US. At what price ethanol production would decrease is not yet known as it is also related to the price of crude oil (which is stronger this week).
Soybeans remain strong with them well above all of the 20, 50 and 100 day moving averages. With rumours of reduced yields in the US this market is dealing with thoughts of smaller supplies that might not match up to the large demand this year. The demand is of course coming from China and the continued strong crush in the US which keeps going off at record levels every month.
Geoffrey Guy | 613-880-2707
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956
Cash bids that morning
These are the prices as published with this post (7:51 AM EDT) — they are not current. View today’s cash bids →
| Name | Notes | Basis Month | Futures Price | Fut. Chg. | Basis | Cash Price | Cash Price (tonne) |
|---|---|---|---|---|---|---|---|
| CORN | Spot | Sep 2026 | 4.6475 | +2.75 | 2.05 | $6.70 | $263.67 |
| CORN | Harvest 2026 | Dec 2026 | 4.8800 | +3.25 | 1.60 | $6.48 | $255.11 |
| CORN | Harvest 2027 | Dec 2027 | 4.9900 | +0.50 | 1.15 | $6.14 | $241.72 |
| SOYBEANS | Spot | Aug 2026 | 12.3775 | +4.75 | 4.20 | $16.58 | $609.12 |
| SOYBEANS | Harvest 2026 | Nov 2026 | 12.4400 | +5.00 | 3.70 | $16.14 | $593.04 |
| SOYBEANS | Harvest 2027 | Nov 2027 | 11.9575 | +2.00 | 3.30 | $15.26 | $560.62 |
| WHEAT, SRW | Spot | Sep 2026 | 7.0750 | +1.75 | 1.90 | $8.98 | $329.77 |
| WHEAT, SRW | Harvest 2026 | Sep 2026 | 7.0750 | +1.75 | 1.80 | $8.88 | $326.10 |
| WHEAT, SRW | Harvest 2027 | Jul 2027 | 7.3700 | -1.75 | 1.30 | $8.67 | $318.57 |
| WHEAT, HRW (INCLUDES PROTEIN) | Spot | Sep 2026 | 7.0750 | +1.75 | 2.10 | $9.18 | $337.12 |
| WHEAT, HRW (INCLUDES PROTEIN) | Harvest 2026 | Sep 2026 | 7.0750 | +1.75 | 2.00 | $9.08 | $333.45 |
| WHEAT, HRW (INCLUDES PROTEIN) | Harvest 2027 | Jul 2027 | 7.3700 | -1.75 | 1.50 | $8.87 | $325.92 |
| WHEAT, HRS (INCLUDES PROTEIN) | Spot | Sep 2026 | 7.2775 | -0.01 | 2.00 | $9.28 | $340.89 |
| WHEAT, HRS (INCLUDES PROTEIN) | Harvest 2026 | Sep 2026 | 7.2775 | -0.01 | 1.90 | $9.18 | $337.22 |
| WHEAT, HRS (INCLUDES PROTEIN) | Harvest 2027 | Sep 2027 | 7.59 | +0.06 | 1.75 | $9.34 | $343.19 |
Cash bids are based on 10-minute delayed futures prices. All grain prices are subject to change at any time.
