North Gower Grains

Tuesday, July 21, 2026, 7:50 am

Monday was a mixed day for our markets.  Harvest corn closed up 5 1/2, harvest soybeans closed up 23 1/4, harvest winter wheat closed down 5 and harvest spring wheat closed down 2 1/4.  In the overnight trade corn and soybeans are mixed with the wheat sector now negative.  Oil closed up $0.70 yesterday at $82.48 per barrel.  It is stronger in trading again this morning with it now priced at $83.86.  Our dollar started out yesterday morning at $0.713 US and then went down to $0.710 US in the afternoon.  It has come up just a bit since then with it currently valued this morning at $0.711 US. 

Soybeans led our markets higher yesterday and reached a new trading high on the November futures.  They are being supported by recent Chinese purchases with thoughts that these purchases will continue.  Both soybeans and corn are also being supported by the heat wave in the US last week and the weather forecast for this week that is looking for minimal precipitation. 

The wheat market continues to be supported by increased news of reduced shipments out of the Black Sea region by both Ukraine and Russia.  Production of SRW in France was affected by the extreme heat this spring and is reduced by 7% from last year.  Their corn crop has also been negatively affected.  With production in Europe reduced and shipments out of the Black Sea reduced this should support demand going forward for grains from North America.  This would of course provide some price support for prices on the CBOT. 

Yesterday the USDA released their Weekly Crop Progress Report.  The good to excellent rating for their corn crop decreased 1% week over week to come in at 67%.  Last year at this time this crop had a 74% good to excellent rating.  They also reported that 59% of this crop is now silking.  This compares to 53% at this time last year and the 5 year average of 54%.

For their soybean crop the good to excellent rating increased 1% from last week to come in at 66%.  Last year at this time their soybean crop had a 68% good to excellent rating.  They also reported that 32% of the crop is setting pods.  This compares to 24% at this time last year and the 5 year average which is also 24%.

The winter wheat harvest increased 7% from last week to come in 74% complete.  This compares to 72% at this time last year and the 5 year average of 71%. 

For their spring wheat crop the good to excellent rating decreased by 5% from last week to come in at 53%.  Last year at this time this crop had a 52% good to excellent rating.

This report should be considered mostly neutral for corn and soybeans with the steady good to excellent ratings.  It is also neutral for winter wheat with the harvest continuing to progress and bullish for spring wheat with the reduced good to excellent rating.