Tuesday was a negative day for all of our markets. Harvest corn closed down 6 1/4, harvest soybeans closed down 2 1/2, spot winter wheat closed down 9 1/2 and spot spring wheat closed down 10 1/4. Markets remain under pressure this morning with corn down around 6, soybeans down 8, winter wheat down around 8 and spring wheat down 5 to 6. Oil was lower again yesterday and is trading around $90 per barrel this morning. Our dollar has also weakened and is currently valued around $0.710 US.
Harvest pressure continues to weigh on corn and soybeans as more new crop grain comes onto the market. Both harvests are running ahead of their normal pace and drier weather should allow fieldwork to continue through much of the Corn Belt. With additional grain entering the pipeline, continued export demand will be important in providing support to prices.
Markets are also waiting for tomorrow’s meeting between the US and China. China has been an active buyer of US soybeans recently and agriculture is expected to be part of the discussions. The soybean market has already built in some optimism ahead of the meeting, so traders will be watching closely to see if it results in any additional purchases.
Wheat continues to struggle with weaker US export inspections and increased competition in world markets. Russia has also been working to move more grain through Baltic and Arctic ports following disruptions in the Black Sea, helping keep Russian wheat available to world buyers.
Looking ahead, tomorrow’s US-China meeting and next week’s USDA Grain Stocks report both have the potential to create some volatility, with the next WASDE following on October 9. Fund traders are also carrying very large long positions, particularly in corn and soybeans, which leaves the market vulnerable to profit taking if upcoming news disappoints. With grain futures as high as they are and the risk of harvest basis pressure, it may be worth locking in a portion of your upcoming crops.
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.
