North Gower Grains

Friday, October 2, 2026, 7:30 am

Thursday was a mostly positive day for our markets. Harvest corn closed up 1 1/2, harvest soybeans closed down 9, spot winter wheat closed up 7 and spot spring wheat closed up 3 1/2. In the overnight trade corn and soybeans are negative with the wheat sector positive. Oil closed up $2.45 yesterday at $92.87 per barrel. It is weaker in trading this morning with it now priced at $89.31. Our dollar has traded between a low of $0.702 US and a high of $0.704 US over the last 24 hours. This morning it is at the low end of the range with it currently valued at $0.702 US.

After falling below the $5.00 per bushel mark on the CBOT yesterday it was nice to see corn rally and close back above this mark. With managed money likely liquidating some of their recent record large long position (looking for prices to go up) and no big export sales to drive prices and the bearish stocks report this week any move positive in this market is a big thing. It is possible that the large rains that much of the US Corn Belt is receiving this week has brought on some thoughts of reduced yield and or quality of this year’s crop and this helped bring prices back to the positive side. Whatever it takes to keep prices on the positive side is what we are interested in.

The soybean market pulled back yesterday with both soybean meal and soybean oil lower for the day. This market is looking for increased purchases from China and it is just not getting them over the last couple of weeks. The trade is still looking for China to purchase the 25 million tonnes however purchases are currently very slow towards this target.

The wheat market closed higher yesterday to end a seven day negative run. Nothing really new in the market with the possibility that traders are finally looking at the current situation between Russia and Ukraine and are realizing that their grain shipments will be significantly reduced this year. This morning I have seen a couple of different reports how Russia’s attempts to move their wheat to the export market via new arrangements is just not working at the volumes they are looking for.

Friday’s thought: We should not be interested on whether you have stood with the great but whether you have sat with the broken!

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