Tuesday was a negative day for our markets. Harvest corn closed down 1/4, harvest soybeans closed down 4, spot winter wheat closed down 3 and spot spring wheat closed down 2 1/4. In the overnight trade corn and the wheat sector are still negative with soybeans now on the positive side. Oil closed up $0.40 yesterday at $94.14 per barrel. It is stronger again this morning with it now priced at $95.73. Our dollar started out yesterday morning at $0.701 US and has trended mostly higher since then. This morning it is currently valued at $0.704 US.
Yesterday was a disappointing day for our markets. They all traded for a time on the positive side before pulling back and closing on the negative side. Nothing really driving prices yesterday and the marketplace continues to trade based on the WASDE report from last Friday. Rumours overnight of China purchasing up to 10 vessels of soybeans is likely the reason that soybeans are on the positive this morning.
The corn market is working with reports out of China that they will be decreasing imports this year down to 3.5 million tonnes and that US corn is currently uneconomical for Chinese purchasers. Production in China is projected at 307 million tonnes with the carry out stocks to use ratio is expected to decrease to 51%. Unlike the US China has a food policy that keeps significant stocks in state ownership to insure uninterrupted supplies of food for the domestic market.
The USDA released their Weekly Crop Progress Report yesterday. The corn harvest increased 10% week over week to come in at 33%. This is firmly behind the 5 year pace of 39% complete for this time of the year. The good to excellent rating of 54% was unchanged from last week.
For soybeans the harvest increased by 21% week over week to come in at 46% complete. This is still behind their 5 year average of 50% complete. The good to excellent rating of 57% was unchanged from last week.
Planting progress for their winter wheat crop increased 15% week over week to come in at 51% complete. This is still behind their 5 year average of 58% planted by this time of the year.
Although the planting and harvest progress both remain behind 5 year averages this report should be considered mostly neutral as the pace of both have improved from previous weeks.
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.
