The Daily Board - Monday, September 28, 2026 (today's close)
Metals took the worst of it today.
Gold and silver both fell hard as Treasury yields spiked to a 19-year high on rising Fed rate-hike odds.
While grains and oilseeds slid in sympathy and crude found its own bid on Strait of Hormuz tension.
The Board
Grains & Oilseeds
🌽 Corn · Dec - 523'0 · −5'2 · −0.99% 🔴⬇️
🫘 Beans · Nov - 1288'2 · −30'6 · −2.33% 🔴⬇️
🥣 Meal · Dec - 359.40 · −11.60 · −3.13% 🔴⬇️
🛢️ Oil · Dec - 67.66 · −0.18 · −0.27% 🔴⬇️
🌾 SRW · Dec - 688'6 · −14'4 · −2.06% 🔴⬇️
🌾 HRW · Dec - 745'6 · −16'2 · −2.13% 🔴⬇️
🌾 HRS · Dec - 701'6 · −11'6 · −1.65% 🔴⬇️
🌾 Oats · Dec - 421'0 · +0'6 · +0.18% 🟢⬆️
Prairie Crops
🍁 Canola · Nov - C$809.00 · −C$19.60 · −2.37% 🔴⬇️
🐮 Barley · cash - 295t/mt➖
Energy
🛢️ WTI · Nov - 92.60 · +0.19 · +0.21% 🟢⬆️
🔥 NatGas · Nov - 3.106 · −0.119 · −3.69% 🔴⬇️
Metals
🥇 Gold · Dec - 4,168.40 · −152.80 · −3.54% 🔴⬇️
🥈 Silver · Dec - 61.718 · −3.083 · −4.76% 🔴⬇️
The Daily Board tells you what happened.
The Klarenbach Grain Report tells you what to do about it.
The Read
🌽 Corn - 523'0, −5'2 (−0.99%) 🔴⬇️
Corn eased with the broader complex, giving back a touch after last week's bounce.
South American planting weather stayed mostly cooperative, capping any independent strength.
So what: a mild pullback still leaves new-crop bids in workable territory for anyone pricing off the combine.
Watch: weekly export inspections and any shift in the corn/bean acreage debate.
🫘 Soybeans - 1288'2, −30'6 (−2.33%) 🔴⬇️
Beans led the oilseed complex lower as basis (the gap between your local cash bid and the futures price) softened at Gulf and PNW shipping points.
Chinese buying interest stayed quiet, leaving the market to trade on fund positioning rather than fresh demand.
So what: the soft basis read matters more than the futures print for anyone selling off the combine.
Watch: any pickup in Chinese purchase announcements or a shift in fund short positioning.
🥣 Soybean Meal - 359.40, −11.60 (−3.13%) 🔴⬇️
Meal carried the crush (the margin a processor earns turning beans into meal and oil) lower today, falling three times as hard as oil.
Livestock feeders get a small breather on protein costs, at least for the session.
So what: ration costs ease a notch even as the broader bean complex weakens.
Watch: the board crush margin - if it keeps narrowing, processors may slow the pace of the crush.