Wednesday was a strong positive day for our markets. Harvest corn closed up 13, harvest soybeans closed up 28 1/4, harvest winter wheat closed up 45 and harvest spring wheat closed up 27 1/2. In the overnight trade corn and soybeans remain negative with the wheat market flat. Oil closed down $0.13 yesterday at $82.23 per barrel. It is stronger in trading this morning with it now priced at $82.37. Our dollar had both a low of $0.720 US and a high of $0.722 US yesterday before noon. It has stayed within that range since then with it currently valued this morning at $0.720 US.
The wheat market led our commodities higher yesterday with winter wheat closing up the trading limit of 45 cents. It was supported with reports that Russia is going to step up its current bombing campaign against Ukraine. This brought forward the threats of the continued reduced supplies out of the Black Sea region to the forefront and prices rallied. With prices flat this morning it looks like today will be a profit taking day for the traders.
Corn has closed higher for 6 consecutive trading days and also for 9 of the last 11 trading days. It remains above all of the 20, 50 and 100 day moving averages as it continues to hit new 3 year highs. The market is being supported with the lower corn yields being talked about in the US and the lack of corn shipments coming out of Ukraine.
Soybeans also have rallied this week mostly on the backs of the corn and wheat markets. However, this market continues to be supported by Chinese purchases and thoughts that they could get ramped up prior to the two Presidents meeting next month.
With the large swing in prices yesterday we have had more target orders being hit and we would like to thank those farmers who had set those targets. As we talked about yesterday this might be a great time to set some ‘Wishful Targets’ for both this year’s and next year’s production.
Some negative news came out of the US yesterday for the biofuels industry. The US administration is looking at reducing parts of their biofuel guidelines for both biodiesel and the amount of ethanol blend. This is something that the market will be watching to see how it progresses and how it can negatively affect the demand side going forward.
Geoffrey Guy | 613-880-2707
Delores Seiter | 613-880-7458
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.
