North Gower Grains

Wednesday, July 8, 2026, 7:10 am

Tuesday was another positive day for our markets.  Harvest corn closed up 6 1/2, harvest soybeans closed up 5 1/2, harvest winter wheat closed up 7 1/4 and harvest spring wheat closed up 1 1/4.  In the overnight trade corn is now negative with soybeans and the wheat sector still positive.  Oil closed up $1.89 yesterday at $70.44 per barrel.  It is stronger in trading again this morning with it now priced at $74.14.  Our dollar started out yesterday morning at $0.703 US and has trended higher since then.  This morning it is currently valued at $0.706 US. 

Our markets traded on both sides of the ledger yesterday with them being negative early in the day before rallying later in the day.  Corn, soybeans and winter wheat all traded in about a 10 cent range.  Our markets are definitely in a weather market.  The extreme heat in Europe and the projected heat in the US are helping to support prices.  Temperatures in the US are expected to be much warmer than average over the rest of July.  How much rains come with this heat will definitely affect crop growth going forward. 

The corn crop in the France is now rumoured to be up to 40% lower this year and would make France an importer of corn.  Of course anytime a regular exporter of a product becomes an importer this is supportive prices.  So far the heat wave in Europe has not been reported as affecting crops in the Ukraine or Russia which are both grain exporting nations. 

The soybean market is still waiting for China to become confirmed active purchasers.  Current weather in the US is supporting this market but the optimism that China will be making substantial purchases really is the current major catalyst for the market.  Some analysts are saying that Chinese purchases are already priced into the market with others saying this is not so.  This is a story that will have to be played out. 

Crude oil prices have bounced overnight with the US resuming bombing strikes against Iran after they attacked tankers in the Strait of Hormuz.  President Trump has stated that he feels that the ceasefire is over with Iran with negotiations between the two countries not progressing well.  Will these attacks result in a war premium coming back into our markets?  This is another story that will need time to play out.