Wednesday, August 12, 2026
A bullish WASDE (USDA's monthly World Agricultural Supply and Demand Estimates report) turned today into the sharpest grain session in weeks.
Corn led with its biggest jump in a month; wheat rallied hard on all three U.S. boards.
A soft July CPI print gave gold and silver their own lift. All 14 instruments closed green.
The Board
Grains & Oilseeds
🌽 Corn · Dec: 480.75 · +20¼ · +4.40% 🟢⬆️
🫘 Beans · Nov: 1183.25 · +14½ · +1.24% 🟢⬆️
🥩 Meal · Dec: 315.10 · +4.20 · +1.35% 🟢⬆️
🫙 Oil · Dec: 68.76 · +0.64 · +0.94% 🟢⬆️
🌾 SRW · Dec: 669.75 · +21½ · +3.32% 🟢⬆️
🌾 HRW · Dec: 737.75 · +21¾ · +3.04% 🟢⬆️
🌾 HRS · Dec: 698.00 · +13.50 · +1.97% 🟢⬆️
🌾 Oats · Dec: 346.25 · +1½ · +0.44% 🟢⬆️
Prairie Crops
🌻 Canola · Nov: C$794.40 · +13.40 · +1.72% 🟢⬆️
🐮 Barley · cash: C$270.00 · unch (wk) · n/a ➖
Energy
🛢️ WTI · Sep: 83.27 · +0.07 · +0.08% 🟢⬆️ †
🔥 NatGas · Sep: 2.804 · +0.037 · +1.34% 🟢⬆️
Metals
🥇 Gold · Dec: 4,467.50 · +26.40 · +0.59% 🟢⬆️
🥈 Silver · Sep: 65.700 · +0.765 · +1.18% 🟢⬆️
The Read
🌽 Corn: 480.75, +20¼ (+4.40%) 🟢⬆️ $CORN ( ▲ 3.59% )
USDA cut 2026/27 corn ending stocks to 1.653 billion bushels, well below both July's number and trade guesses, even as it trimmed yield 2.3 bushels to 180.7 per acre.
Total production still lands at 16.0 billion bushels, the second-largest crop on record, but the stocks cut is what moved the market.
So what: a tighter carryover argues for firmer basis (the gap between your local cash bid and the futures price) into fall for anyone still holding bushels in the bin.
Watch: whether the rally holds into Thursday's export sales report.