North Gower Grains

Monday, November 9, 2026, 7:20 am

Friday was another mixed day for our markets.  Harvest corn closed up 1 1/2, harvest soybeans closed up 5 1/2, spot winter wheat closed down 8 and spot spring wheat closed down 4.  In the overnight trade corn and soybeans are mixed with the wheat sector on the negative side.  Oil closed up $0.29 on Friday at $90.83 per barrel.  It is weaker in trading this morning with it now priced at $88.34.  Our dollar started out on Friday at $0.714 US and then trended lower closing out the day at $0.708 US.  It has bounced back some this morning with it currently valued at $0.709 US. 

Soybeans closed higher on Friday ending their string of nine consecutive negative trading days.  They closed about 10 cents off the low for the day as they rallied late in the trading day.  We should point out that they still lost about 40 cents per bushel on the CBOT for the week.  Soybean oil was the strong supporter on Friday with a nice rally even with the lower price of crude oil last week. 

Wheat prices keep grinding lower even with the lack of supplies coming out of the Black Sea region.  There is starting to be talk of rotting crops in the Ukraine due to their lack of shipments this fall and the lack of storage facilities to handle the increased stock levels.  Even though most analysts are not very bullish on the current peace talks between Russia and this market just keeps going lower.  The HRW wheat market in the US has closed lower for 10 consecutive weeks.  This is a trend that the market had not seen since the summer of 1997. 

Last week was another negative week for our markets.  Harvest corn for this year was down $3 per tonne with next year’s harvest down $2 per tonne.  Harvest soybeans for this year were down $14 per tonne with harvest 2027 down $11 per tonne.  Winter wheat was down $6 per tonne across the board and spring wheat was down $4 across the board.  Unfortunately the negative trend has continued in all of our markets. 

Tomorrow the USDA releases their monthly WASDE report.  It is widely expected that the corn production will decrease from the previous estimate of 181.2 bushels per acres down to 180.3 bushels per acre.  For soybeans the average trade guess has the yield increasing from 53.1 bushels per acres up to 53.5 bushels per acre.  Remember just last week Stone X had both numbers significantly higher than this.  The USDA has been known to surprise the marketplace and this might be one of those times. 

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