Chicago grain futures opened the month on a softer tone Monday, with corn, soybeans, and wheat all closing slightly lower as traders positioned ahead of year-end demand indicators and monitored mixed global weather patterns. A firmer Canadian dollar also added mild pressure to basis-adjusted returns, with the exchange rate closing at 1.3989, up 0.0025.
Corn futures slipped, with March 2026 corn closing at 4.45/bu, down 2 3/4 cents, while December 2026 settled at 4.67/bu, down 1 1/4 cents. Ontario cash bids were steady across most regions, with spot basis holding near +1.40 to +1.45 over March, while processors such as Johnstown Ethanol continued to post the strongest bids above 6.80/bu delivered.
Soybeans also edged lower, pressured by slow export demand and steady planting progress in South America. January 2026 soybeans closed at 11.28/bu, down 9 3/4 cents, while November 2026 ended at 11.25/bu, down 3 1/2 cents. Ontario elevator basis ranged from +3.65 to +3.75, with processor bids again leading the market, including Windsor at 15.70/bu delivered.
Wheat futures eased across all classes. Chicago March 2026 wheat ended at 5.35/bu, down 3 1/2 cents, while July settled at 5.51 3/4, down 3 1/4 cents. Minneapolis spring wheat softened as well, with March closing at 5.76/bu, down 2 cents. Ontario delivered new-crop SRW bids held mostly between 1.10 and 1.25 over July, with HRW and HRS premiums varying by location.
Across the Canadian cash market, basis values held relatively steady to start December, with ethanol plants and crushers continuing to set the top end of the bid structure as they compete for nearby supplies.
