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.