Monday, June 8, 2026, 7:10 am

Friday was yet another negative day for our markets.  Harvest corn closed down 5 3/4, harvest soybeans closed down 4, harvest winter wheat closed down 1 3/4 and harvest spring wheat closed down 1.  In the overnight trade corn, soybeans and winter wheat are negative with spring wheat now positive.  Oil closed down $2.46 on Friday at $90.54 per barrel.  It is stronger this morning with it now valued at $93.98 per barrel.  Our dollar traded between a low of $0.717 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 still valued at $0.717 US. 

Not much change on Friday with our markets continuing to grind lower.  Soybeans dropped about $0.65 per bushel in the nearby market over the last 5 trading days. Favourable growing weather in the US has the supply side flexing its muscle in this crop with prospects of a strong yield this year.  The lack of Chinese purchases of both old crop and new crop soybeans is also weighing heavy on this market.  Finally, soybean oil prices pulled back last week with thoughts that supply has finally met and possibly outpaced demand in the US. 

Last week was a big negative week for our commodities on the CBOT.  There were some basis improvements that offset a bit of the decline in prices.  Spot corn closed down $8 per tonne with this year’s harvest down $11 per tonne and next year’s harvest down $4 per tonne.  Spot soybeans closed down $7 per tonne with both this year’s harvest and next year’s harvest down $16 per tonne.  The winter wheat market was down $8 per tonne across the board.  Spring wheat was down $15 per tonne on the spot market, $14 per tonne for this year’s harvest and $10 per tonne for harvest 2027. 

Crude oil prices jumped up in the overnight trade with the peace plan between Iran and the US seems to be in jeopardy.  More bombings yesterday back and forth with more talk about which side is responsible for the increased strikes.  This war has now reached the 100 day level and it seems that any talk of it ending is just talks.  All of our markets are watching to see when it will finally end and what will be the net result in prices.   

Geoffrey Guy | 613-880-2707