North Gower Grains

Tuesday, October 6, 2026, 7:00 am

Monday was a mostly positive day for our markets.  Harvest corn closed down 1/2, harvest soybeans closed up 2 1/2, spot winter wheat closed up 9 1/4 and spot spring wheat closed up 10 1/2.  In the overnight trade all of our markets have made it back onto the positive side.  Oil closed down $1.68 yesterday at $89.43 per barrel.  It is weaker in trading again this morning with it now priced at $87.38.  Our dollar started out yesterday morning at $0.702 US then trended lower going down to $0.700 US in the overnight trade.  It has come back up a bit this morning with it currently valued at $0.701 US. 

Our markets started strong yesterday but pulled back as the trading day progressed.  Soybeans were up almost 20 cents early in the day then pulled back as the market was unable to support higher prices.  Soybean prices have fallen below the 20 day moving average and are pushing on the 50 day moving average.  This market will be looking for the WASDE report this Friday to likely decrease soybean production this year in the US due to the wet September that much of their crop endured.

The current weather forecast over most of the US Corn Belt is a negative for our markets.  It is showing a warmer and dryer forecast then the last couple of weeks and this should help to ramp up harvest.  As noted below harvest has been delayed for both corn and soybeans over the last week. 

More bombings are being reported between Russia and Ukraine on grain handling infrastructure and grain carrying vessels in the Black Sea.  It seems that a truce in this war which would result in grain shipments ramping back up is not going to occur anytime soon. 

The USDA released their Weekly Crop Progress Report yesterday.  The good to excellent rating for their corn crop decreased 1% week over week to come in at 54%.  The corn harvest slowed down last week increasing by only 5% and came in at 23% complete.  This is firmly behind the 5 year average of 27% harvested for this time of the year.

For their soybean crop the good to excellent rating also decreased 1% week over week to come in at 57%.  The harvest increased by 8% from last week to come in at 25% complete.  This is also well behind the 5 year average of 33% complete. 

Winter wheat plantings came in at 36% complete which is well behind the 5 year average of 46% complete.

This report should be bullish for corn and soybeans with both markets reporting the harvest delays over the last week.  The slow planting pace of their winter wheat crop should also be supportive for that market. 

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