Tuesday was a nice positive day for our markets. Harvest corn closed up 2 1/2, harvest soybeans closed up 14 1/2, spot winter wheat closed up 6 1/2 and spot spring wheat closed up 12 1/4. In the overnight trade all of our markets remain on the positive side. Oil closed up $4.44 yesterday at $105.83 per barrel. It is weaker in trading this morning with it now priced at $103.39. Our dollar started out yesterday morning at $0.719 US and has trended just a bit lower over the last 24 hours. This morning it is currently valued at $0.718 US.
All of our markets started yesterday morning on the negative side and it was nice to see that all turned positive as the trading day progressed. The soybean sector was supported by the higher price of crude oil. Shipments of crude oil are being further restricted out of the Middle East with a pipeline from Saudi Arabia now out of commission from bombings.
The higher price of crude oil helps to strengthen soybean crush margins and this further helps to keep the grind going at near record levels. Although the soybean crush in the US was lower in August then expected it still was a new record for the month coming in at 205.456 million bushels. We should note though that total crush is up 8% over last year and as we noted yesterday more crushing plants are being built in the US. The amount of soybeans being crushed should keep increasing going forward.
Minimum export prices were raised yesterday in Ukraine. Corn prices went from $119 per tonne up to $195 per tonne. For wheat they raised the price from $122 per tonne up to $146 per tonne. All prices are in US dollars. During the current war with Russia the Ukraine government is setting the minimum export price as it tries to control the exports and bring funds into the country. With the increased minimum prices we were unable to find any reports if this would change their export expectations. It is also hard to find out how this may or may not affect world prices going forward.
The prospect of a Black Sea Truce is still being talked about in the wheat market. It seems unlikely at this time however we do know to never count on any of the rumours / talks out of this area until we actually see an announcement that an agreement has been made. As we have seen over the last bunch of months it just seems that the marketplace will not let prices get that much higher. For the short term our local markets are pretty much flooded with supplies. If you need to move some wheat out to open up some bin space for the corn and soybean harvest give us a call as we still have a few contracts to fill.
One final note. Prices for next year continue to be very attractive. We are seeing a bunch of interest especially in the soybean market with prices nearing $600 per tonne. This would be a strong number to start your sales at. Give us a call anytime to discuss.
Geoffrey Guy | 613-880-2707
Adam Plater | 613-220-8961
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.
