North Gower Grains

Thursday August 6, 2026 7:15 am

Wednesday was a mostly negative day for our markets. Harvest corn closed down 5 1/2, harvest soybeans closed down 3, harvest winter wheat closed up 3 3/4 and harvest spring wheat closed down 1. In the overnight trade all of our markets have made it to the positive side. Oil closed down $0.55 yesterday at $75.22 per barrel. It is stronger in trading this morning with it now priced at $75.84. Our dollar started out yesterday at $0.711 US and has trended mostly higher since then. This morning it is currently valued at $0.714 US.

The soybean market tried to rally yesterday but pulled back from daily highs near the end of the trading session. The current weather forecast for much of the US Corn Belt continues to bring more precipitation which is very supportive for soybean growth and therefore negative for prices. We are hearing the analysts talk more about Chinese purchases from the US as they begin to have a price advantage over soybeans from Brazil. Chinese inventories of soybeans are reportedly very high with the state owned company this week auctioning off some inventory which will make room for future US purchases.

The wheat market closed about 10 cents off their daily highs yesterday. This market was showing a nice rally with analysts saying that uncertainty of shipments out of the Black Sea region hang over this market. When prices pull back the analysts say that the grains out of the Black Sea will make it to the market sooner or later. It seems that this market just will not go much higher at this time.

Ethanol production in the US decreased last week by 2% coming off the second highest production week on record. They produced 1.107 million barrels per day last week. Blender demand was down 0.4% with exports rising over the week with the net result a decrease of 0.8% in ethanol stocks. Once again ethanol production remains a very important piece in the overall corn market.

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