Thursday was another negative day for our markets. Harvest corn closed down 1 1/2, harvest soybeans closed down 1/2, spot winter wheat closed down 1 1/2 and spot spring wheat closed down 8 1/2. In the overnight trade all of our markets remain firmly on the negative side. Oil closed up $2.35 yesterday at $94.61 per barrel. It is weaker in trading this morning with it now priced at $92.95. Our dollar started out yesterday morning at $0.708 US and then trended lower going down to $0.706 US in the overnight trade. It has bounced back just a bit this morning with it currently valued at $0.707 US.
Yesterday we talked about the three big geopolitical events occurring and how they might affect our prices with President Xi’s visit to Washington being front and center. Nothing concrete has come out of those meetings yet and this is one of the reasons that our markets stayed flat yesterday and closed on the negative side again.
Soybeans drifted lower even with soybean meal hitting a new nearby contract high on the CBOT. Although the overall soybean harvest has been ahead in the US this fall in some northern areas it is behind previous years and the crush is running out of old crop soybeans to utilise. This is resulting in a shorterm shortage of soybean meal and the price has spiked.
The corn market continues to drift lower as it really needs something bullish to push prices higher. The widespread rain over much of the US Corn Belt that is delaying harvest this week is not enough to support this market.
The wheat market is lower with reports out of Russia and Ukraine that US, India, Turkey, Egypt and Middle East Nations have reached out to help broker a Black Sea Shipping Truce. We will have to wait and see if anything comes out of these talks.
With our markets all lower this morning we can see that the marketplace is disappointed that there has been no big announcements come out of the Trump / Xi summit. It is possible that something could come today or a post summit announcement over the weekend. We never can be sure what these two leaders will do and how it can affect our markets.
Friday’s thought: The highway of life is filled with flat squirrels that could not make a decision. Do not get flattened, be proactive in your marketing decisions!
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.
