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Wednesday was a mostly negative day for our markets. Harvest corn closed down 8 3/4, harvest soybeans closed down 27 1/4, harvest winter wheat closed down 1 3/4 and harvest spring wheat closed up 2 1/2. In the overnight trade all of our markets are on the negative side. Oil closed up $5.20 yesterday at $84.46 per barrel. It is weaker in trading this morning with it now priced at $83.64. Our dollar started out yesterday morning at $0.709 US and then trended higher going up to $0.713 US early in the afternoon. It has eased off a bit since then with it currently valued this morning at $0.712 US.
Soybeans fell hard yesterday with a change in the weather forecast that is now looking at precipitation over some of the dryer parts of the US growing regions. This most likely led managed money to liquidate some of their current long position (looking for prices to go up) which accelerated the downward spiral. The lack of Chinese purchases this week was also a concern for the marketplace with reports of increased soybean shipments so far this year from Brazil to China. The decrease in price resulted in soybeans falling below their 20 day moving average for the first time send the end of June.
The corn market responded much the same way to the change in the weather forecast as soybeans did yesterday. This market should be getting support from the decreased crop rating released on Monday and the continued shipping problems out of the Black Sea region. However, it seems that US weather for the Corn Belt is currently the largest driver of daily price changes.
Winter wheat prices are rallying this morning with new reports of bombings in the Black Sea overnight. It is getting harder every day to see when shipments will return to normal levels as both sides are active on the bombing side. The market has decided to concentrate on this fact this morning and as such prices have jumped back up.
Ethanol production in the US increased by 3.5% week over week to come in at 1.133 million barrels per day. Blended demand and exports were also up for the week. Net result was only an increase in ethanol stocks of 1%. The ethanol industry remains a staple for the corn market and without it corn prices would be much lower.
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.
