North Gower Grains

Monday, October 19, 2026, 7:25 am

Friday was another negative day for our markets.  Harvest corn closed down 3 3/4, harvest soybeans closed down 1 3/4, spot winter wheat closed down 9 1/2 and spot spring wheat also closed down 9 1/2.  In the overnight trade corn is negative with soybeans and the wheat sector now positive.  Oil closed up $3.44 on Friday at $101.41 per barrel.  It is weaker in some choppy trading this morning with it now priced at $101.33.  Our dollar traded between a low of $0.705 US and a high of $0.707 US on Friday with it closing out at the high end of the range.  It is stronger again this morning with it currently valued at $0.710 US.

The current weather forecast in the US is very favourable for both the corn and soybean harvest to continue and this is bringing much harvest pressure to prices.  Our markets are searching for some bullish news and just cannot currently find anything to drive prices higher.

Managed money has been liquidating large portions of their long positions (looking for prices to go up) lately.  This has helped to bring more push on the negative side for prices.  The liquidation of their positions has followed the two recent bearish USDA reports bringing in higher projected stock levels and higher projected yields for this harvest year in the US.   

Ukraine officials have asked neighbouring countries for permission to ship via rail large amounts of grain through their countries.  This has been met with limited acceptance in the past as the countries are worried of production from Ukraine flooding their markets.  Supposedly the grain cargoes would have to ship through the countries and not be dumped which is supposed to ease their concerns.  With the lack of Black Sea shipments currently taking place shipments out of Russia and Ukraine are roughly 40% behind last year’s pace.  We should note that the USDA is only projecting a decrease of about 15% in shipments this year.  How this all works out time will have to tell this story. 

Last week was a negative week for our markets.  The corn market was down $2 across the board.  Harvest soybeans were down $12 per tonne with next year’s harvest up $2 per tonne due to an adjustment in basis.  Winter wheat was down $4 across the board and spring wheat was down $7 across the board. 

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