Friday was a negative day for our markets. Harvest corn closed down 5 3/4, spot soybeans closed down 16 3/4, spot winter wheat closed down 4 1/4 and spot spring wheat closed down 1/2. In the overnight trade corn, soybeans and spring wheat are mixed with winter wheat negative. Oil closed down $0.16 on Friday at $57.44 per barrel. It is weaker in trading again this morning with it now valued at $57.18 per barrel. Our dollar traded between a low of $0.725 US and a high of $0.727 US on Friday with it closing out right in the middle at $0.726 US. It has continued this trading range in the overnight session with it currently valued this morning once again at $0.726 US.
Last week was a mostly negative week for our markets. The corn market was down $2 per tonne for this year and $1 per tonne for next year. Soybeans led the way negative with a decrease of $10 per tonne for this year and $6 per tonne for next year. Spring wheat was up $1 per tonne for both this year and next year. Winter wheat was down $3 per tonne on the spot market and $2 per tonne for next year’s harvest.
Friday was a poor negative day for our markets. It is thought that managed money is continuing to liquidate their long position (looking for prices to go up) in both the corn and soybean markets. Wheat prices are being pressured with increased supply coming on line in many different wheat producing nations this fall. The current one is Argentina and they are offering low protein wheat at prices lower then corn onto the world market.
The corn market has been in a decline over the last few weeks. For harvest 2026 prices on the CBOT have fallen below their 20 day moving average and are very close to falling below both their 50 day and 100 day moving average. With weather being favourable for the South American crop and Ukraine starting to ramp up exports corn prices remained pressured. Exports out of the US remain strong support for now however this will be hard to continue as the trading year develops.
Soybean prices have now fallen about $1 per bushel ($37 per tonne) from their high last month. Strong growing weather in Brazil is producing another record production this year and the strong supply side will keep a lid on prices. Of course Chinese imports always are a main concern for this market. How it will work out with the still unsigned ‘Trade Pact’ the marketplace is still deciding.
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956
