North Gower Grains

Monday August 10, 2026 7:25 am

Friday was another mixed day for our markets. Harvest corn closed unchanged, harvest soybeans closed down 1 1/2, harvest winter wheat closed up 8 1/2 and harvest spring wheat also closed up 8 1/2. In the overnight trade all of our markets have made it to the positive side. Oil closed up $0.89 on Friday at $78.18 per barrel. It is stronger in trading again this morning with it now priced at $79.30. Our dollar traded between a low of $0.713 US and a high of $0.718 US on Friday with it closing out at $0.717 US. With some choppy trading in the overnight session it is once again valued at $0.717 US this morning.

Wheat futures rallied a bit on Friday with reports out of the Ukraine Ag Minister saying that exports could be cut by more than 50% with their export terminals shut down. He also said that corn exports would be down about 30% for the same reason. There were other reports out of Ukraine on Friday saying that all domestic storage facilities would be overflowing this fall with the lack of exports and this would lead to outside piles and likely destruction of some grain stocks. According to these reports they could be short over 10 million tonnes in storage space.

Chinese imports of soybeans decreased in July 2026 from July of 2025 by 1.6% to come in at 11.48 million tonnes. However imports for the first seven months of the calendar year were up this year by 0.7% to reach 61.51 million tonnes. China of course remains the largest soybean importer in the world.

The weather forecast in the US Corn Belt continues to bring precipitation which will remain supportive for crop growth. This should keep pressure on row crop prices going forward.

Last week was a mixed week for our markets. The corn market closed down $1 per tonne across the board. Soybeans were the weakest with them down $5 per tonne on the spot markets, $10 per tonne for this year’s harvest and $2 per tonne for harvest 2027. Winter wheat was even for this year’s harvest and was up $2 per tonne for next year’s harvest. Spring wheat was down $3 per tonne for both this year’s and next year’s harvest.

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