The markets are closed on Monday for the Martin Luther King Holiday in the US. I am out of the office in the morning and as such have completed the daily blog tonight. Friday was a nice positive day for our markets. Spot corn closed up 4 1/2, spot soybeans closed up 4 3/4, spot winter wheat closed up 7 1/2 and spot spring wheat closed up 2. As mentioned above the markets are closed during the day on Monday but will reopen for the overnight session. Oil closed up $0.26 on Friday at $59.34 per barrel. Our dollar traded between a low of $0.718 US and a high of $0.720 US on Friday with it closing out at $0.719 US.
Last week was a mostly negative week for our markets. Remember the week started out with the very bearish WASDE report on Monday and it was truly nice to see that our markets were not much more negative then they ended up being. Corn was the big loser for the week with it down $8 per tonne on the spot market and $6 per tonne for harvest 2026. Soybeans were down $2 per tonne across the board. Spring wheat was down $1 per tonne across the board and winter wheat ended up even for both the spot market and harvest 2026.
Winter wheat led our markets on the positive side on Friday with some concerns over a killing freeze risk for much of the US winter wheat growing regions. This is coming after some abnormally warm weather lately that might have brought some of the winter wheat out of dormancy. There is currently minimal snow cover over much of this area which would normally protect the crop from any freezing damage.
Corn prices have mostly rallied since Monday and they keep getting supported by increased US export sales announcements. Maybe these are opportunistic purchases after the price pullback at the beginning of the week however they still provide support to prices. It will be interesting to see if prices can continue to be supported by export sales going forward.
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956
