Friday was a negative day for our markets. Harvest corn closed down 4, harvest soybeans closed down 6 1/2, spot winter wheat closed down 20 1/4 and spot spring wheat closed down 20 1/2. In the overnight trade all or our markets have returned to the positive side. Oil closed up $0.18 on Friday at $91.48 per barrel. It is stronger in trading again this morning with it now priced at $93.88. Our dollar traded between a low of $0.721 US and a high of $0.725 US on Friday with it closing out right in the middle of the range at $0.723 US. After going up to $0.727 US in the overnight session it has come back down to $0.724 US at which it is currently valued.
Our markets pulled back on Friday with traders not taking too large of a position before the long weekend. It was a risk off day especially in the wheat sector with reports of high level talks taking place over the weekend to end the war between Russia and Ukraine. The much stronger prices this morning in the wheat market reflects that the peace talks made no significant progress on the weekend.
Corn futures ended the week up 1/4 cent on the CBOT. With supplies limited this harvest in Europe due to the stressed growing season they encountered and a reduced yield in the US to be harvested the demand continues to dominate. There are reports that corn usage will decrease in the EU with wheat replacing it in the feed market. However, before this does occur we must remember that wheat supplies will also be limited this year especially if no wheat gets flowing out of the Black Sea region.
The USDA releases their monthly WASDE report this Friday and they are widely expected to decrease production totals for this year in the corn market. How far they pull down the average yield will be greatly debated this week. The analysts we follow are thinking that the USDA will slow play the decrease in yield until the harvest season is farther advanced. Most likely we will see some price volatility going into the report this Friday.
They are reports out of China that their soybean crushing industry is struggling as they are currently operating in a negative margin. This is partially due to the 10% import tariff on US soybeans that China has in place. There is much optimism that when the two presidents meet later this month that an announcement may come saying that this tariff is being cancelled. This would have a positive effect on soybean prices going forward.
Managed money has been very active recently increasing their long position (looking for prices to go up) for our commodities. As of last Tuesday they are holding the second largest long position in both the corn and soybean markets on record. They have also moved from a short position into a long position in the wheat market. These funds are bringing much support to our markets and it looks like this support will continue.
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.
