Customer Appreciation Day – Wednesday, June 24, 2026 at 10 am. Everyone is welcome to attend.
Thursday was a negative day for our markets. Harvest corn closed down 4 3/4, harvest soybeans closed down 6 1/2, harvest winter wheat closed down 7 and harvest spring wheat closed down 1/2. The markets are closed today in the US for the Juneteenth holiday. Oil closed down $0.16 yesterday at $75.85 per barrel. It is stronger this morning with it currently priced at $74.96. Our dollar started out yesterday morning at $0.708 US and then trended lower going down to $0.706 US in the overnight trade. It has bounced back just a bit this morning with it currently valued at $0.706 US.
With our markets closed for the long weekend funds were active sellers yesterday as they were taking some risk off the table. The peace deal was signed and this will help to keep downward pressure on crude oil prices. Weather in the US is supportive for crop growth in the short term for both corn and soybeans.
Corn closed lower due to the factors noted above. There was some bullish news for corn however with new export sales announced to Mexico out of the US. The current heat wave in Europe may also be supportive corn going forward if it does hurt production out of that area.
Soybean oil prices have fallen for 5 of the last 6 trading days. This is directly related to the pullback in crude oil prices. Prices have fallen below the 50-day moving average but have been able to stay above the 100-day moving average. Of course, the demand side of this market should remain strong with the biodiesel market consuming more and more soybean oil going forward.
Our local markets are currently being well supplied and we are not seeing the demand side increasing basis for the feed market. There still is a market for old crop stocks however prices have pulled back from their highs earlier this spring. Give us a call if you would like to sell any old crop supplies or you would like to set a target price to move them at.
Friday’s thought: In the middle of every difficulty lies opportunity!
Geoffrey Guy | 613-880-2707
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956
