North Gower Grains

Friday, July 24, 2026, 7:30 am

Thursday was a mixed day for our markets.  Harvest corn closed up 2 3/4, harvest soybeans closed up 4 3/4, harvest winter wheat closed down 9 1/4 and harvest spring wheat closed down 5 1/4.  In the overnight trade all of our markets have made it back to the positive side.  Oil closed up $5.36 yesterday at $92.19 per barrel.  It is weaker in trading this morning with it now priced at $89.81.  Our dollar traded between a low of $0.709 US and a high of $0.711 US over the last 24 hours.  This morning it is right in the middle of the range with it currently valued at $0.710 US. 

Harvest corn has now closed up for 5 straight days on the CBOT.  The weather forecast over much of the Western and Northern portions of the Corn Belt has continued hot and dry weather which will stress the growing crop.  The weather also remains hot in France and the rest of the EU with production estimates decreasing for that region.  Of course the almost complete current shutdown of shipments out of the Black Sea is also supporting this market.  The current fundamentals remain strong in this market and it is rumoured that Managed Money has been increasing its long position (looking for prices to go up).  Remember though that what goes up must come down and it would not be a surprise to see a negative day for this market with the analysts just saying that Managed Money is locking in some profits. 

Winter wheat has rallied almost $1.50 per bushel over the last month.  Yesterday was a negative day as Managed Money likely took some profit of the table.  Nothing really changed in this market yesterday with the same market concerns that we have been talking about all week.  It is unreasonable to think that grain shipments out of the Black Sea will never return and as such this could be a great time to take advantage of the price premium in the market.  This is especially so for next year’s harvest.  Give us a call anytime to discuss pricing with the current pricing environment.

Much like corn and the wheat sector the soybean market also remains bullish.  Recent Chinese purchases are providing the backbone for this market.  It is very hard to know how far this market can go and as such we want to congratulate our farmers who have taken some profit off the table this week and locked in prices.  As always you can never go wrong locking in a profit.  Target orders will also help to take advantage of any rally in the markets.

President Trump announced yesterday that President Xi would be visiting the US on September 24, 2026.  This will be a date to watch with the thought that China would ramp up purchases around that time to look good to their US hosts.  Time will have to tell this story.

Friday’s thought: Tans will fade but memories will live forever.  Enjoy the great summer weather this weekend!

Geoffrey Guy | 613-880-2707
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956