Monday was another mixed day for our markets. Harvest corn closed up 7, harvest soybeans closed down 15 1/4, harvest winter wheat closed up 1/4 and harvest spring wheat closed down 4 1/2. In the overnight trade all of our markets have fallen onto the negative side. Oil closed down $2.05 yesterday at $85.01 per barrel. It is weaker in trading again this morning with it now priced at $81.98. Our dollar traded between a low of $0.721 US and a high of $0.723 US over the last 24 hours. This morning it is right in the middle of the range with it currently valued at $0.722 US.
Our markets had a very volatile day yesterday. Corn closed about 10 cents off their high for the day with soybeans closing about 6 cents off their low for the day. The wheat market was also closed about 15 cents off their high for the day. The markets traded back and forth as the day progressed as it digested different news items.
Corn was supported by the lower yield reported by the US Pro Farmer Tour with soybeans hindered by the stronger yield reported at the same time. Corn prices on the CBOT are at their highest level since July of 2023. The wheat market continues to move around with Black Sea shipments being held to a minimum with the continued hostilities between Russia and Ukraine.
There was a report yesterday out of Iowa that Pioneer Seeds did a yield check on 4487 different fields throughout the state. They came in with a yield projection of 226 bushels per acre. This is significantly higher than the Pro Farmer Tour average of 190 bushels per acre for Iowa. We should point out that last year this same Pioneer yield check ended up about 30 bushels per acre higher than the final USDA numbers. This really is more noise in the marketplace and to what affect it will have on the markets is yet to be seen.
With all of our markets starting today on the negative side it seems that the bears are in charge this morning. Hopefully the bulls will take over as the trading day progresses.
The USDA released their Weekly Crop Progress Report yesterday. The good to excellent rating for their corn crop decreased 3% from the previous week to come in at 57% good to excellent rating. This compares to last year’s rating of 61% good to excellent.
For soybeans the good to excellent rating decreased 1% from the previous week. It came in at 60% and this compares to the 69% good to excellent at this time last year.
Spring wheat ‘s harvest has reached 62% complete. This is up from 41% last week and remains ahead of both last year’s 51% and the 5-year average of 52%. Winter wheat is no longer reported on with thoughts that the harvest is essentially complete at this time.
This report should be slightly bullish for corn with the large decrease in the good to excellent rating. For soybeans it is more neutral with only the small change in the good to excellent rating. Finally for spring wheat it is also neutral with the harvest progressing well.
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.
