Friday was a mostly negative day for our markets. Spot corn closed down 1/4, spot soybeans closed up 1 1/4, spot winter wheat closed down 3/4 and spot spring wheat closed down 3 3/4. In the overnight trade all of our markets are now on the positive side. Oil closed up $1.02 on Friday at $58.78 per barrel. It is down a bit this morning with it now valued at $58.64 per barrel. Our dollar traded between a low of $0.719 US and a high of $0.721 US on Friday with it closing out at the low end of the range. This morning it is right in the middle of the range with it currently valued at $0.721 US.
Last week was a mostly positive week for our markets. Both spot corn and harvest 2026 corn were up $3 per tonne. Spot soybeans were up $6 per tonne with harvest 2026 up $3 per tonne. Spot winter wheat was down $2 per tonne with next year’s harvest down $1 per tonne. Winter wheat was up $4 per tonne across the board.
Friday was a slow day for our markets as it looks like traders are waiting for the USDA report that will be released today at noon. There was a rumour that China made a large soybean purchase (up to 800,000 tonnes) however no confirmation of this purchase.
On Thursday and Friday we talked about what might be affecting the corn and soybean markets in today’s WASDE report. This morning let’s take a quick look at the wheat market.
- The USDA will be releasing their final planted acres for the winter wheat market from last fall. There is talk that this could be reduced from previous estimates and this should provide some support of the market.
- Of course the big negative for the wheat market is record production around other parts of the globe. This is the elephant in the room that will most likely keep a ceiling on prices going forward.
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956
