Wednesday, January 7, 2026, 7:00 am

Tuesday was a negative day for our markets.  Spot corn closed down 1/2, spot soybeans closed down 5 3/4, spot winter wheat closed down 2 and spot spring wheat closed down 4.  In the overnight trade all of our markets are on the positive side.  Oil closed down $1.19 yesterday at $57.13 per barrel.  It is weaker in trading again this morning with it now valued at $56.80 per barrel.  Our dollar had high of $0.727 US yesterday before lunch and a low of $0.723 US late in the trading day.  It has bounced back up just a bit this morning with it currently valued at $0.724 US.

After rallying on Monday soybeans led the way back to the negative side yesterday.  They were unable to keep the rally going even with some confirmation of export sales to China.  These sales are now totalling probably near 10 million tonnes of the 12 million tonnes that has been widely talked about in the still unsigned ‘Trade Pact’.  It is widely expected that the USDA will be reducing soybean export sales next week with the monthly WASDE report even with these recent sales to China.  With any negative day in this market the analysts can easily say that speculative funds are still liquidating some of their long position (looking for prices to go up) especially at least until the report next Monday.   With not any real strong reason for prices to go up it is nice to see prices are back on the positive this morning.

The corn market followed the soybean market lower yesterday.  Reports out of Ukraine have as much as 10 million tonnes of corn left in the field over this winter.  This could be partially due to the slow exports out of the Black Sea with Russia continuing to bomb their export infrastructure.  If the war was to end before the spring this corn would quickly make it into the export market.

Weather in South America is remaining mostly favourable crop growth.  The soybean harvest has started in Northern Brazil on a limited basis and crops in Argentina are doing well.  Current crop ratings have their corn rated at 82% good to excellent which is a new record for this time of the year.  Their soybeans are rated at 68% which is much higher than the 62% from last year.  These strong ratings reflect the favourable growing season their crops have encountered so far.