Monday was a mostly positive day for our markets. Harvest corn closed down 3 1/4, harvest soybeans closed up 6 1/2, spot winter wheat closed up 12 and spot spring wheat closed up 9. In the overnight trade all or our markets are on the positive side. Oil closed up $1.55 yesterday at $93.03 per barrel. It is stronger in trading again this morning with it now priced at $94.97. Our dollar started out yesterday morning at $0.724 US and then went up to $0.727 US before lunch. It has traded within that range since then with it currently valued this morning at $0.726 US.
The corn market has now closed lower for 3 consecutive trading days totalling 17 cents. Is this a sign of more negative to come or is it just a small correction after the recent price upswing? Stone X released updated yield projections for the US yesterday coming in at 182.9 bushels per acre. This is a decrease from their previous estimate of 184.8 bushels per acre. We should note that this is much higher than the US Pro Farmer Crop Tour of 173.1 bushels per acre. With the USDA releasing their monthly WASDE report this Friday we should be seeing an updated yield projection from them. With the final yield currently up in the air for the US corn crop we could see increased volatility in this market going forward.
In the soybean market Stone X kept their yield projection unchanged at 53 bushels per acre. The marketplace is not looking for much change from the USDA with their updated numbers this Friday.
The wheat market remains supported by the stalled peace talks between Russia and Ukraine. More reports came out overnight about increased bombings between the two countries.
Yesterday the USDA released their weekly Crop Progress Report. The good to excellent rating for their corn crop decreased 1% week over week to come in at 56%. Last year at this time this crop had a 68% good to excellent rating. They also reported that 5% of the crop is now harvested. This compares to 4% at this time last year and the 5 year average of 3% harvested.
For their soybean crop the good to excellent rating was unchanged from last week at 58%. Last year at this time their soybeans had a 64% good to excellent rating. They also report that 26% of this crop is now dropping leaves. This compares to last year’s 20% which is also the 5 year average.
The spring wheat harvest is now reported at 86% complete. This compares to 83% at this time last year and the 5 year average which is also 83% harvested.
Winter wheat plantings have started with 2% completed. This compares to 4% at this time last year and the 5 year average of 5% planted.
This report should be considered slightly bullish for corn with the continued decrease in the good to excellent rating. For soybeans and the wheat sector it is mostly neutral.
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.
