North Gower Grains

Wednesday, October 28, 2026, 7:30 am

Tuesday was another negative day for our markets.  Harvest corn closed down 6 1/4, harvest soybeans closed down 12, spot winter wheat closed down 5 3/4 and spot spring wheat closed down 5 1/2.  In the overnight trade corn, soybeans and winter wheat are positive with spring wheat still on the negative side.  Oil closed down $1.86 yesterday at $99.90 per barrel.  It is stronger this morning with it now priced at $101.57.  Our dollar started out yesterday morning at $0.714 US and has trended mostly lower since then.  This morning it is currently valued at $0.711 US. 

The soybean market started positive yesterday then pulled back as the trading day progressed.  It was unable to sustain any positive action as fund selling was widespread across our markets.  Soybean meal prices have fallen for 9 consecutive trading days as the whole soybean complex is unable to find any reasons to ratchet prices back up.  The strong harvest is progressing well in the US and any purchases from Chinese buyers have not been significant enough to drive prices onto the positive side.

Corn prices are now down about $1.00 per bushel on the CBOT for the December trading month since early in September.  The trend is not out friend.  Remember the USDA did increase their yield projection with the October WASDE report which the market was very surprised with.  The big negative for this market is that Managed Money has been steadily liquidating their long position and this has brought much downward pressures to the market.  At what level this market will level out is yet to be found.  On our Customer Day we were paying $250 per tonne for this year’s harvest.  This number is once again looking very attractive.

The wheat market is much like the corn and soybean market.  Prices have pulled back hard over the last two months as the market struggles to find reasons to pull prices back up.  Many analysts are thinking that US exports will have to pick up some time this year to help make up for the shortfall of shipments out of the Black Sea region.  With a stocks to use ratio of about 40% in the US they do have ample supplies for increased exports. 

For all of our markets the current trend is not our friend.  How and when the markets find their lows is yet to be seen.  This might be a good time to take a look at your current marketing levels and see if you need to take some risk off the table.  Give us a call anytime to discuss how we can help you out!

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