North Gower Grains

Tuesday, June 23, 2026, 6:10 am

Customer Appreciation Day – Wednesday, June 24, 2026 at 10 am.  Everyone is welcome to attend.

Monday was a negative day for our markets.  Harvest corn closed down 4 1/2, harvest soybeans closed down 1 1/4, harvest winter wheat closed down 8 1/4 and harvest spring wheat closed down 9 1/4.  In the overnight trade all of our markets have made it back on to the positive side.  Oil closed down $1.99 yesterday at $73.86 per barrel.  It is weaker again this morning with it currently priced at $73.51.  Our dollar had a high of $0.707 US yesterday around noon and has trended mostly lower since then.  This morning it is currently valued at $0.705 US. 

July corn futures have fallen to a new low with much negative pressure on the market.  The large record crops this year in Brazil and Argentina and the strong start to the US crop are boosting up the supply side of this market.  Weather in the US is remaining mostly favourable for crop growth and the marketplace is unable to find any reason to add any weather risk premium into prices.  The trend is not our friend in this market. 

The USDA released their weekly Crop Progress Report yesterday.  The good to excellent rating for their corn crop was unchanged from last week at 68%.  Last year at this time this crop had a 70% good to excellent rating. 

For their soybean crop they reported the good to excellent rating was unchanged from the previous week at 66%.  This is also the same rating their soybean crop had last year at this time. 

The harvest for their winter wheat crop continues to progress with it now reported that 40% of the crop is harvested.  This is up from 25% last week and is well ahead of both last year’s 18% harvested and the 5 year average of 24% harvested.  The good to excellent rating for this crop decreased 1% from the previous week to come in at 26%.  Last year at this time this crop had a 49% good to excellent rating. 

Spring wheat’s good to excellent rating decreased from 55% last week down to 54% this week.  Last year at this time it also had a 54% good to excellent rating. 

This report should be considered mostly neutral for corn and soybeans with the continued strong good to excellent ratings.  With the harvest progressing well in winter wheat the report is somewhat negative prices and with only a small change in the crop rating for spring wheat the report is mostly neutral for that crop.