Thursday was another mostly negative day for our markets. Harvest corn closed down 2 3/4, harvest soybeans closed up 7 3/4, spot winter wheat closed down 3 1/2 and spot spring wheat closed down 9 3/4. In the overnight trade corn is still negative with soybeans and the wheat sector on both sides of the ledger. Oil closed up $2.32 yesterday at $99.47 per barrel. It is stronger again this morning with it now priced at $101.30. Our dollar had a low yesterday morning of $0.712 US and has trended mostly up since then. This morning it is currently valued at $0.714 US.
Soybeans closed higher yesterday for the first time since October 9th. They had eight consecutive negative trading days. Did anything really change in the market yesterday, not really? It just seems that the market was due for a positive day. Export sales are strong out of the US however harvest pressure is overriding any bullish thoughts at this time. The best thing to say about soybean prices is that they are still at strong historic highs. Last year at this time soybeans at the elevator were at $501 per tonne.
After being positive on Wednesday corn was unable to make it a trend with prices back on the negative on Thursday. There continues to be some bullish factors for corn with prices much higher in Europe then in the US due to their decreased production this year. This should make corn from the US and Canada more attractive in the European Union and this should be providing some price support to the marketplace. However, we really have not seen any increased sales and the corn market continues to flounder.
The analysts keep talking about peace talks between Russia and Ukraine and what will happen when their grain supplies start to fully flow out of their countries again. This seems to be the elephant in the room for the wheat market and this is keeping a negative tone on prices.
Locally the harvest is progressing well for soybeans and corn. Many farmers have finished their soybean harvest and are now into their corn crop. We are accepting both at the elevator and will continue to run extended harvest hours.
Friday’s thought: The only emotion greater then fear is hope!
P.S. – This was told to me by one our farmers as he is worried that prices will go lower but has hope that they will go higher!
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.
