Monday was yet another mixed day for our markets. Harvest corn closed down 1/4, harvest soybeans closed up 3 1/4, harvest winter wheat closed 3/4 and harvest spring wheat also closed down 9 1/2. In the overnight trade all of our markets have made it to the positive side. Oil closed up $3.95 yesterday at $82.13 per barrel. It is stronger in trading again this morning with it now priced at $83.45. Our dollar traded between a low of $0.717 US and a high of $0.718 US over the last 24 hours. This morning it is at the high end of the range with it currently valued at $0.718 US.
All of our markets started positive yesterday but pulled back as the trading day progressed. Most disappointing is probably a pullback of about 20 cents in the wheat market from their daily highs. This market just will not sustain any rally based on the expanded problems with shipments from Russia and Ukraine.
Tomorrow the USDA will be releasing their monthly WASDE report. There are many analysts thinking that acreage could be increased for corn in this report. The big market mover could be at what level they report average yields for both corn and soybeans. We of course know that they will massage the balance sheet to keep from any major changes in the stocks levels. We most likely need to prepare for the market to go up or down tomorrow. This is a report that the USDA could surprise us all.
Yesterday the USDA released their weekly Crop Progress Report. The good to excellent rating for their corn crop was unchanged week over week at 61%. Last year at this time this crop had a 72% good to excellent rating. They also reported that 61% of this crop is in the dough stage. This compares to 56% at this time last year and the 5 year average of 55%.
The good to excellent rating for their soybean crop decreased 1% week over week to come in at 62%. Last year at this time this crop had a 68% good to excellent rating. They also reported that 74% of the crop is setting pods. This compares to 69% at this time last year and the 5 year average which is also 69%.
The winter wheat harvest is now 91% complete. This is also the 5 year average.
Spring wheat had its good to excellent rating decreased 4% week over week to come in at only 51%. They also reported that 24% of this crop is now harvested. This compares to only 14% at this time last year and the 5 year average of 19%.
This report should be considered mostly neutral for corn, soybeans and winter wheat. For spring wheat it is slightly bullish with the decrease in the good to excellent rating but bearish with the quick pace of harvest.
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.
