Wednesday was a poor negative day for our markets. Harvest corn closed down 6, harvest soybeans closed down 5 1/2, spot winter wheat closed down 17 3/4 and spot spring wheat closed down 9 1/2. In the overnight trade corn and winter wheat are positive with soybeans and spring wheat now negative. Oil closed down $1.16 yesterday at $88.28 per barrel. It is stronger in trading this morning with it now priced at $92.72. Our dollar started out yesterday morning at $0.703 US then went down to $0.700 US before noon. It has stayed within that range since then with it currently valued this morning at $0.701 US.
Our markets had a repositioning day yesterday with prices pulling back after the positive day on Tuesday. There really was no big market making news yesterday and with the lack of new information traders pulled back. There was some talk that India is trying to get Russia and Ukraine back to the table to make peace but many other countries have tried this to no success at this time.
Soybeans pulled back even with soybean meal prices rising yesterday. This meal market is trading like there might be a shortage going forward with fears of reduced soybean yield being reported tomorrow for this year’s US crop. The meal market maybe trading thinking a lower supply is coming however with negative prices in the soybean market it is not showing any supply concerns.
The corn market was disappointing with the negative turn as many analysts are looking for a yield projection decrease with the WASDE report on Friday. Weekly ethanol production in the US bounced out of the depths of seasonal maintenance to increase by 4.5% last week up to 1.053 million barrels per day. Blender demand was lower and exports were higher with a net result of a small decline in their stocks level to 23.74 million barrels.
The markets will most likely continue to position themselves for the updated data that the USDA will be releasing tomorrow. The biggest news should be the yield projections for both corn and soybeans. Of course the marketplace keeps waiting for the USDA to significantly increase US exports to China and also decrease Black Sea shipments of grains. Overall most analysts are thinking this report should be slightly favourable for prices going forward.
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.
