Wednesday was a mostly negative day for our markets. Harvest corn closed up 1 3/4, harvest soybeans closed down 11 3/4, spot winter wheat closed down 1 1/4 and spot spring wheat closed down 2 3/4. In the overnight trade all of our markets have made it to the positive side. Oil closed down $7.97 yesterday at $88.12 per barrel. It is stronger in trading this morning with it now priced at $89.65. Our dollar has traded between a low of $0.715 US and a high of $0.718 US over the last 24 hours. This morning it is at the high end of the range with it currently valued at $0.716 US.
Soybean prices fell again yesterday as they were pressured by the increased yield that StoneX reported on Monday. This was the 8th straight trading day that soybeans have fallen on the CBOT. The trend is most definitely not our friend at this time. It is looking like Managed Money continues to liquidate their long position (looking for prices to go up) and this is putting additional negative pressure on prices. What it will take to turn around this market is hard to find at this time and it truly is a leap of faith to think that significant gains can be made in the short term.
Ethanol production in the US increased 2% week over week to come in at 1.143 million barrels per day. This is the 2nd largest production week ever recorded for ethanol production in the US. If they were to produce at this level over the whole marketing year they would consume 5.8 billion bushels of corn. Both exports and blender demand were also up last week which resulted in ethanol stocks decreased by 0.4% down to 24.43 million barrels. All in all at these are very supportive numbers for both the ethanol industry and the corn market going forward.
Crude oil prices have pulled back sharply after the landslide Democratic win in the midterm elections this week in the US. Comments by both President Trump and Vice President Vance are hinting that no major escalation will currently be taken against Iran and this is leading to a removal of the risk premium in this market. This decrease in the crude oil price was also negative for the soybean oil market which is negative for soybean prices.
It is great to see this morning that all of our markets are on the positive side. Whatever is causing this hopefully it will hold for the full trading day today.
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.
