Remembrance Day is today, Lest we Forget!
Tuesday was a positive day for our markets. Harvest corn closed up 9 3/4, harvest soybeans closed up 39 3/4, spot winter wheat closed up 4 3/4 and spot spring wheat closed up 6 1/2. In the overnight trade corn and soybeans are back on the negative side with the wheat sector still positive. Oil closed down $0.81 yesterday at $86.01 per barrel. It is stronger in trading this morning with it now priced at $86.71. Our dollar started out yesterday morning at $0.707 US and has trended mostly lower since then. This morning it is currently valued at $0.703 US.
The USDA released their monthly WASDE report yesterday and they did surprise the marketplace with lower than the pre-report average trade guesses for the average yield on both corn and soybeans.
Soybeans led the way higher even with a new record high yield projection of 53.3 bushels per acre. This was up from 53.1 bushels per acre last month but was lower than the average trade guess of 53.5 bushels per acre. They also increased the demand side of the balance sheet with the strong exports this year finally being recognized. The end result was a pullback in ending stocks down to 300 million bushels for this marketing year. The net result was that soybean prices took off and closed with 5 cents of their high for the day.
On the corn side they decreased the average projected yield from 181.2 bushels per acre down to 179.6 bushels per acre. The average pre-report trade guess was 180.4 bushels per acre. Remember it was just last month that they increased the estimated yield for this year. With the lower production they did decrease US exports of corn and they also decreased feed and residual usage. The net result was still a decrease in the year ending stocks from 1.849 billion bushels down to 1.758 billion bushels.
Both markets traded higher yesterday with the new supportive data. It is very unfortunate that this morning that the positive trading from yesterday is not driving prices higher again this morning. Hopefully as the market digests the data from the report it will see that prices should firm up going forward. Whatever the market decides today’s trading could be a strong sign on what will happen 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.
