North Gower Grains

Tuesday, September 29, 2026, 7:15 am

Monday was a negative day for our markets.  Harvest corn closed down 5 1/4, harvest soybeans closed down 30 1/4, spot winter wheat closed down 14 1/2 and spot spring wheat closed down 11 3/4.    In the overnight trade corn and soybeans are around even with the wheat market still on the negative side.  Oil closed up $0.46 yesterday at $92.60 per barrel.  It is weaker in trading this morning with it now priced at $91.86.  Our dollar started out yesterday morning at $0.706 US and has trended lower since then.  This morning it is currently valued at $0.704 US. 

Yesterday started out negative and stayed that way for the day.  Soybeans led the way down with the marketplace disappointed that the list of tariff free trade between China and the US did not include soybeans.  They continue to hold a 10% tariff on imports into China and this is making US soybeans too expensive for non-government owned importers to purchase.  With this negative thought it is likely that managed money liquidated some of their near record high long position (looking for prices to go up) and cashed in some profits. 

Corn followed soybeans lower yesterday and just like soybeans it is likely that managed money liquidated some of their record high long position.  If they continue this liquidation this would put negative pressure on prices going forward. 

The wheat market should be getting support out of the continued shipping issues in the Black Sea.  However, this market is acting like it sees a positive resolution to the current situation that will allow shipments to resume.  Time will have to tell this story for sure. 

The USDA released their Weekly Crop Progress Report yesterday and the good to excellent rating for their corn crop was unchanged from last week at 57%.  More importantly harvest progress slowed down and came in at 18% complete which is also the 5 year average. 

For their soybean crop the good to excellent rating was also unchanged from last week at 58%.  Harvest progress also slowed down for soybeans with 17% of the crop now combined.  This is also the 5 year average for harvest progress at this time of the year.

The spring wheat harvest is now complete and is no longer being reported on.  For winter wheat plantings increased 10% from last week to sit at 27% complete.  This is well behind last year’s 32% and the 5 year average of 34% planted.

This report should be considered somewhat supportive for our markets with harvest for corn and soybeans slowing down back to their 5 year averages and the winter wheat plantings falling behind their 5 year averages.

Geoffrey Guy | 613-880-2707
Adam Plater | 613-220-8961
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956