Tuesday was a negative day for our markets. Harvest corn closed down 1 1/4, harvest soybeans closed down 10 3/4, harvest winter wheat closed down 10 1/4 and harvest spring wheat closed down 10 3/4. In the overnight trade all of our markets have made it back to the positive side. Oil closed up $1.07 yesterday at $83.20 per barrel. It is stronger in trading again this morning with it now priced at $83.49. Our dollar traded between a low of $0.717 US and a high of $0.719 US over the last 24 hours. This morning it is right in the middle of the range with it currently valued at $0.718 US.
Lately it seems like our markets are starting the days on the positive side and then pulling back as the trading day progresses. Yesterday was a major example of this. It is likely that Managed Money liquidated some of their long positions yesterday before today’s WASDE report. This repositioning of their positions going into the report would have helped to drive prices lower.
What can we expect today?
Corn – Will the USDA make a significant decrease in US yield projections? Will acres be changed be to the plus or negative side? How will the USDA deal with the continued strong old crop exports out of the US? Will they drastically decrease EU production this year due to their stressed growing season? Chinese demand is also always a wild card in these reports.
Soybeans – Just like corn how will the USDA reflect the stressed growing season so far in the US Corn Belt? Will acres be amended? In previous reports the USDA did not fully account for the 25 million tonne target for shipments to China. Is there more increases coming in the US crush demand?
Wheat – Reduced production this year around the world could lead to decreased world stocks. Of course the current problems with shipments out of Russia and Ukraine are hanging over this market and should be dealt with.
With the markets being positive this morning it looks like traders are looking for bullish news today. The report comes out at noon today and we will be watching closely to see how the markets react.
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.
