Monday, July 27, 2026, 7:15 am

Friday was another mixed day for our markets.  Harvest corn closed unchanged, harvest soybeans closed up 9 3/4, harvest winter wheat closed down 14 3/4 and harvest spring wheat closed down 7 3/4.  This morning all of markets have fallen back into the negative side.  Oil closed down $2.88 on Friday at $89.31 per barrel.  It is weaker again this morning with it now priced at $83.34.  Our dollar traded between a low of $0.709 US and a high of $0.711 US on Friday with it closing out at $0.710 US.  It is a bit lower this morning with it currently valued at $0.709 US. 

The wheat market continued lower on Friday after the fast recent rally on the CBOT.  Reports came out of the Ukraine on Friday that they were trying to make arrangements to get grains flowing again out of the Port of Odessa and through the Black Sea.  It is unclear what they can do at this time but as we noted last week shipments have been disrupted in the past and they always seem to come back up.  One positive for the wheat market on Friday was that it closed almost 30 cents off the low for the day. 

Soybean prices were higher on Friday with support from purchases from China and the domestic soybean crush remaining strong.  The CBOT had rallied about $0.50 per bushel last week with it ending at its highest level since the harvest of 2023. 

This morning everything has changed in our markets. The weather forecast has changed over much of the US Corn Belt this week with the updated forecast showing up to 114% of the normal rainfall for the current week.  The heat dome is continuing over much of the US growing areas however the markets seem to be more concentrated on the precipitation then the heat this morning.  Row crops are of course the most affected by the change in the weather forecast.

Crude oil prices pulled back on Friday and even more on the weekend as a new truce or at least a suspension of the current bombings between the US and Iran was announced.  This most likely is also affecting the corn and soybean markets negatively. 

Managed money has recently been increasing their long positions (looking for prices to go up) and this has given them a position to liquidate.  This is most likely occurring this morning with the pullback in prices.  Remember the markets usually overreact both to the positive and to the negative and fund liquidation is a big part of this.

Geoffrey Guy | 613-880-2707
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956