North Gower Grains

Monday, July 13, 2026, 7:20 am

Friday was a strong positive day for our markets.  Harvest corn closed up 9, harvest soybeans closed up 9 1/4, harvest winter wheat closed up 18 1/4 and harvest spring wheat closed up 11 1/2.  In the overnight trade corn, soybeans and spring wheat are still positive with winter wheat now on the negative side.  Oil closed down $0.67 on Friday at $71.41 per barrel.  It is stronger this morning with it now priced at $73.87.  Our dollar traded between a low of $0.706 US and a high of $0.708 US on Friday with it closing out at the low end of the range.  This morning it is a bit stronger with it currently valued at $0.707 US. 

Our markets started out on Friday on the negative side and rallied as the marketing day progressed.  The USDA decreased carryout stocks with their report on Friday and this supported prices going forward.  As expected no changes were made to yield projections for their growing corn and soybean crops.    

On Friday Ukraine bombs reportedly hit 28 Russian ships and this raised the idea that Russian exports of grains could be hindered going forward.  Russia is expected to export 22.3% of the world wheat export trade this year.  With Russia retaliatory bombing strikes on grain exporting assets in the Ukraine this also brought all grain exports out of the Black Sea region into focus.  These bombings most likely supported both wheat and corn prices on Friday.

On the corn side remember with the crop in France being lowered this year due to their recent heat wave it was thought that exports out of the Ukraine would be in higher demand in Western Europe.  Ukraine was expected to control 10.9% of the world export trade this marketing year.

Last week was a positive week for our markets.  Spot corn closed up $6 per tonne, with this year’s harvest up $9 per tonne and next year’s up $7 per tonne.  Soybeans were the star of the week with spot up $28 per tonne, this year’s harvest up $27 per tonne and harvest 2027 up $19 per tonne.  Winter wheat was up $14 per tonne across the board.  Spring wheat was up $13 per tonne on both the spot market and for this year’s harvest.  For harvest 2027 spring wheat was up $8 per tonne. 

The weather forecast has changed once again for the US Corn Belt.  They are projecting about 30% of the normal rain for the next 7 days with temperatures from 4 to 7 degrees (Fahrenheit) above normal.  For the 8-14 day forecast precipitation is expected at about 70% of the normal.  This is a very supportive weather forecast for prices as the growing crops will be put under stress.  Of course, we all know that weather forecasts can change quickly and this is something that the marketplace will be monitoring closely going forward.