Tuesday was a nice positive day for our markets. Harvest corn closed up 10 3/4, harvest soybeans closed up 22 1/4, spot winter wheat closed up 12 and spot spring wheat closed up 11 1/4. In the overnight trade corn and the wheat sector are negative with soybeans mixed. Oil closed up $0.01 yesterday at $89.44 per barrel. It is stronger in trading again this morning with it now priced at $89.95. Our dollar started out yesterday morning at $0.700 US then trended higher going up to $0.704 US in the afternoon. It has come down a bit this morning with it currently valued at $0.703 US.
Soybeans led our markets higher yesterday with rumours that Chinese buyers were looking at increased purchases. The markets were also supported by the delayed harvest caused by the recent rain events across the Corn Belt and the reduced good to excellent ratings. There are also reports that funds were active purchasers yesterday and this further supported higher prices. Finally thoughts that the USDA will reduce the soybean yield with their monthly WASDE report on Friday also provided support for higher prices.
The corn market responded higher for much of the same reasons as the soybean market. The only difference is that this market is still waiting to see any Chinese purchases. The rumours of purchases would even drive prices higher. Some analysts are looking for a significant drop in the yield projection this Friday. If this does occur it would have a major impact on prices going forward.
It looked like the wheat market either went higher just because corn and soybeans went higher or the market went higher due to the continued problems with shipments out of the Black Sea region. I find it funny how many analysts will one day say prices are up due to the bombings but will ignore the bombings for the next ten days. Remember, analysts always need a reason for prices to change and are very reluctant just to say sometimes the market just does what it does.
With prices pulling back this morning we can say that the markets overreacted to the positive yesterday and today the market is just balancing out. This is fine as long as it does not balance out too far on the negative side. Let’s hope that the USDA provides some support for prices this Friday.
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.
