Friday was a negative day for our markets. Harvest corn closed down 3 1/2, harvest soybeans closed down 35 3/4, spot winter wheat closed down 14 and spot spring wheat closed down 17 1/2. In the overnight trade corn and soybeans remain on the negative side with the wheat sector now positive. Oil closed down $2.03 on Friday at $100.05 per barrel. It is stronger in trading this morning with it now priced at $102.11. Our dollar traded between a low of $0.720 US and a high of $0.723 US on Friday with it closing out at $0.721 US. It is weaker this morning with it currently valued at $0.720 US.
On Friday the USDA released their monthly WASDE report and they did not really put any major surprises into the markets. Let’s summarise the report as follows:
Corn
- The yield estimate came in just above the market average estimate at 178.5 bushels per acre. This is down from 180.5 bushels per acre recorded in August. This still will result in the 2nd largest US corn crop on record.
- Old crop demand was increased which decreased carry in stocks for this year. New crop demand was decreased on the balance sheet.
- Ending stocks came in at 1.567 billion bushels which results in a stocks to use ratio of 9.7%.
Soybeans
- The average yield was increased by 0.1 bushels per acre up to 52.8 bushels per acre which will result in a record total US soybean production of 4.536 billion bushels.
- The balance sheet was adjusted with some increased demand.
- Ending stocks came in at 310 million bushels which converts to a stocks to use ration of 6.8%.
Wheat
- No changes to the US balance sheet. Stocks remain at a three year low.
- Black Sea shipments were only decreased by 4 million tonnes. This was offset by increased exports by Australia, Argentina and Canada.
The soybean market was very disappointing on Friday with it down hard before the report and even more after the report came out. It just seems that the soybean complex was in a liquidation mode on Friday and the slightly bearish report just added to these actions.
Also on Friday the weekly report for Managed Money was released. They increased their corn and soybeans positions to new record long (looking for prices to go up) for both markets. The old records were in 2011 for corn and 2012 for soybeans. For winter wheat they slightly decreased their long position.
Last week was a volatile week for our markets and it ended up being negative. Both spot corn and harvest corn closed down $2 per tonne with harvest 2027 down $1 per tonne. Soybeans were down $5 per tonne on the spot market, $4 per tonne for this year’s harvest and ended up even for harvest 2027. Winter wheat was down $2 per tonne across the board and spring wheat was down $1 per tonne across the board.
Geoffrey Guy | 613-880-2707
Adam Plater | 613-220-8961
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956
Cash bids that morning
These are the prices as published with this post (7:51 AM EDT) — they are not current. View today’s cash bids →
| Name | Notes | Basis Month | Futures Price | Fut. Chg. | Basis | Cash Price | Cash Price (tonne) |
|---|---|---|---|---|---|---|---|
| CORN | Spot | Sep 2026 | 4.6475 | +2.75 | 2.05 | $6.70 | $263.67 |
| CORN | Harvest 2026 | Dec 2026 | 4.8800 | +3.25 | 1.60 | $6.48 | $255.11 |
| CORN | Harvest 2027 | Dec 2027 | 4.9900 | +0.50 | 1.15 | $6.14 | $241.72 |
| SOYBEANS | Spot | Aug 2026 | 12.3775 | +4.75 | 4.20 | $16.58 | $609.12 |
| SOYBEANS | Harvest 2026 | Nov 2026 | 12.4400 | +5.00 | 3.70 | $16.14 | $593.04 |
| SOYBEANS | Harvest 2027 | Nov 2027 | 11.9575 | +2.00 | 3.30 | $15.26 | $560.62 |
| WHEAT, SRW | Spot | Sep 2026 | 7.0750 | +1.75 | 1.90 | $8.98 | $329.77 |
| WHEAT, SRW | Harvest 2026 | Sep 2026 | 7.0750 | +1.75 | 1.80 | $8.88 | $326.10 |
| WHEAT, SRW | Harvest 2027 | Jul 2027 | 7.3700 | -1.75 | 1.30 | $8.67 | $318.57 |
| WHEAT, HRW (INCLUDES PROTEIN) | Spot | Sep 2026 | 7.0750 | +1.75 | 2.10 | $9.18 | $337.12 |
| WHEAT, HRW (INCLUDES PROTEIN) | Harvest 2026 | Sep 2026 | 7.0750 | +1.75 | 2.00 | $9.08 | $333.45 |
| WHEAT, HRW (INCLUDES PROTEIN) | Harvest 2027 | Jul 2027 | 7.3700 | -1.75 | 1.50 | $8.87 | $325.92 |
| WHEAT, HRS (INCLUDES PROTEIN) | Spot | Sep 2026 | 7.2775 | -0.01 | 2.00 | $9.28 | $340.89 |
| WHEAT, HRS (INCLUDES PROTEIN) | Harvest 2026 | Sep 2026 | 7.2775 | -0.01 | 1.90 | $9.18 | $337.22 |
| WHEAT, HRS (INCLUDES PROTEIN) | Harvest 2027 | Sep 2027 | 7.59 | +0.06 | 1.75 | $9.34 | $343.19 |
Cash bids are based on 10-minute delayed futures prices. All grain prices are subject to change at any time.
