Wednesday, November 4, 2026, 7:10 am

Tuesday was a negative day for our markets.  Harvest corn closed down 5 3/4, harvest soybeans closed down 2 3/4, spot winter wheat closed down 6 1/4 and spot spring wheat closed down 6 3/4.  In the overnight trade all of our markets remain on the negative side.  Oil closed down $0.37 yesterday at $96.09 per barrel.  It is weaker in trading again this morning with it now priced at $95.31.  Our dollar has traded between a low of $0.714 US and a high of $0.717 US over the last 24 hours.  This morning it is at the high end of the range with it currently valued at $0.717 US. 

The wheat market led our commodities lower yesterday with reports of a new meeting planned for November 10^th between Russia and Ukraine to end their current war.  Just a bit of optimism that the war may end helps to drive prices lower.  In a separate report from Russia they have stated that their grain exports have dropped by 50% in the third quarter this year as compared to last year.  Ukrainian officials are projecting that their corn and wheat stocks will increase from under 6 million tonnes last year up to about 31 million tonnes this year due to reduced exports. 

The corn and soybean markets followed wheat lower with thoughts that managed money continue to liquidate their long positions.  Nothing is really changing in these markets as harvest continues to progress well in the US.  There is a possibility that the monthly WASDE report being released next Tuesday could bring a lifeline to our markets if the USDA could bring itself to lower projected yields. 

Contrary to this StoneX in the US increased its corn yield forecast up to 183.1 bushels per acre.  Previously they had projected a yield of 182.1 with the USDA’s last projection at 181.2 bushels per acre.  They also increased their soybean yield forecast up to 55 bushels per acre from their previous projection of 54.1.  The USDA’s current projection is for 53.1 bushels per acre.  Based on this release it seems unlikely that the USDA will decrease yield projections next week.

With the markets continuing to grind lower we keep getting questions on when will the low be in.  This is something that we just cannot accurately project and with this thought let’s be thankful that prices are still generally historically strong and that yields are much stronger this year than last year.  Per acre gross income is up this year and that is most definitely a positive.  Give us a call to discuss how we can help you lock in this positive. 

Geoffrey Guy | 613-880-2707
Adam Plater | 613-220-8961
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956