North Gower Grains

Thursday, September 17, 2026, 6:00 am

Wednesday was a mostly positive day for our markets.  Harvest corn closed down 1 1/2, harvest soybeans closed up 1 3/4, spot winter wheat closed up 2 1/4 and spot spring wheat closed up 7 1/2.    In the overnight trade corn is mixed, soybeans and spring wheat are positive with winter wheat now on the negative side.  Oil closed down $3.40 yesterday at $102.43 per barrel.  It is weaker in trading again this morning with it now priced at $101.49.  Our dollar started out yesterday morning at $0.718 US and has trended lower since then.  This morning it is currently valued at $0.715 US. 

With the recent pull back in corn prices it is pressuring the 20 day moving average to the downside.  This would be a negative technical sign if it falls past this moving average.  With the harvest moving along in the US the next big news will be relevant yield data making it into the market.  Remember also that with President Xi from China visiting the US next week there is some optimism that he will announce new corn purchases from the US.  If this was to occur it would be most likely bring some positive pressure to prices to go higher.

Soybeans and wheat traded yesterday within about a 20 cent range with the marketplace wavering where it wanted to go with prices.  Nothing really new for either market as they both trade with the latest geopolitical news that might affect their balance sheets.  Soybeans with thoughts of what might occur with President Xi visit next week and wheat with the continued war between Russia and Ukraine.

Stats Canada yesterday released some updated production projections for this year.  They are pegging Ontario’s corn production at 10.4 million tonnes which is a rise of 9.8% from last year.  The average yield is projected at 186.2 bushels per acre which is up from 180 bushels per acre last year.  Quebec’s corn production is expected to increase by 19.9% up to 3.5 million tonnes.  Soybean production in Ontario is projected at 4.0 million tonnes which is an increase of 11.8% from last year up.  This is based on an average yield of 52.0 bushels per acre.  Production in Quebec is expected to increase by 14% from last year up to 1.4 million tonnes this year.  All in all the higher production totals would normally put negative pressure on basis levels as there will be lots of corn and soybeans available for the export markets. 

One rumour we need to mention today is that President Xi had a stroke on his state visit to India which ended early.  Unconfirmed reports have him being flown immediately back to China however the delay in getting him to a hospital has hampered his recovery.  If this is true it could most definitely jeopardise the planned visit to the US next week.  We should find out over the next few days if this rumour is based on fact or is not true.  How this could affect our markets is anybody’s guess at this time.

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