North Gower Grains

Friday, October 16, 2026, 7:30 am

Thursday was a negative day for our markets.  Harvest corn closed down 2 3/4, harvest soybeans closed down 14 1/4, spot winter wheat closed down 3 1/4 and spot spring wheat closed down 4.  In the overnight trade all of our markets remain on the negative side.  Oil closed up $2.89 yesterday at $97.97 per barrel.  It is weaker in trading this morning with it now priced at $97.79.  Our dollar had a low yesterday morning of $0.703 US and has trended higher since then.  This morning it is currently valued at $0.707 US. 

Soybeans led our markets lower yesterday and have now fallen below both their 20 and 50 day moving averages.  This is the first time it has fallen below their 50 day moving average since August 11^th.  On August 12^th the USDA released their monthly WASDE report and it was bullish soybeans and the market responded positively.  Prices increased by about $1.60 per bushel on the CBOT for harvest soybeans before they started to pull back last month.  They have now lost about 40% of the previous gain and the current trend is definitely not our friend. 

Prices pulled back yesterday with the harvest pace picking up in the US with some favourable harvest weather.  The biggest negative yesterday for this market was that the September crush data for the US came in at 196.3 million bushels which was down 0.8% from last year.  It also was a decrease of 4.6% from August.  The only positive data from the crush figure was that soybean oil stocks were down 12.35% from August and this is now the lowest stocks total since November of 2014.  Although the crush was lower it seems that demand for the end product remained strong.  With harvest supplies now available for the crush market we should see an increase back up for October in the crush amount. 

Possibly the most disappointing thing this week for the soybean market was that China has come back to the market and prices continued lower.  Many analysts were talking that the marketplace was just waiting to see more Chinese purchases and this would push prices higher.  This has not occurred with possibly the new record yield projections for this year overriding the new purchases.

With the current wet weather we are expecting to see some of our customers switch over to harvesting corn and then returning to soybeans sometime next week.  We are ready to receive corn but give us a call first just to make sure.  We will be open over the weekend if combines are rolling.  Please give us a call if you want to dump some product this weekend.

Friday’s thought: Worrying is like a rocking chair, it gives you something to do, but it gets you nowhere!

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