North Gower Grains

Tuesday, July 14, 2026, 7:15 am

Monday was a mixed day for our markets.  Harvest corn closed up 2 1/4, harvest soybeans closed up 4, harvest winter wheat closed down 2 3/4 and harvest spring wheat closed down 4 3/4.  In the overnight trade all of our markets are now on the negative side.  Oil closed up $6.73 yesterday at $78.14 per barrel.  It is stronger again this morning with it now priced at $80.85.  Our dollar has traded between a low of $0.706 US and a high of $0.710 US during the last 24 hours.  This morning it is currently valued at $0.709 US. 

Our markets started out strong yesterday morning and pulled back as the marketing day progressed.  It seems that the dry hot weather forecast was not enough to keep the corn and soybean markets at their daily high.  Turmoil with grain shipments out of both Russia and the Ukraine was not enough to keep wheat prices at their highs.  Analysts are saying that managed money took some profits out of the market yesterday and that pulled back prices later in the trading day. 

China made its fourth purchase in five days of new crop soybeans from the US yesterday.  They have now committed to just fewer than 5% of the expected 25 million tonnes of soybean purchases that President Trump has previously said they have agreed to.  Remember, this number has never been publicly agreed to by any representative of the Chinese government.

Crude oil prices had a large increase yesterday as the ceasefire between the US and Iran seems to be off the table.  Uncertainty about how ships will pass through the Strait of Hormuz has returned and higher crude prices are showing this. 

The USDA released their Weekly Crop Progress Report yesterday.  The good to excellent rating for their corn crop increased 1% from last week to come in at 68%.  Last year at this time it had a 74% good to excellent rating.  They also reported that 34% of the crop is now silking.  This compares to 32% at this time last year and the 5 year average of 30%. 

For their soybean crop the good to excellent rating also increased 1% week over week to come in at 65%.  Last year at this time it had a 70% good to excellent rating.  They also reported that 50% of the crop is now flowering.  This compares to 45% at this time last year and the 5 year average of 44% flowering.

The winter wheat harvest has reached 67% complete.  This compares to last year’s 62% and the 5 year average of 61% completed. 

Spring Wheat also had a 1% increase in its good to excellent rating going from 57% last week up to 58% this week.  They also reported that 72% of this crop is now headed.  This compares to 76% at this time last year and the 5 year average of 72%.

This report is slightly bearish for corn and soybeans with the increased good to excellent ratings and the faster then average growth cycle of the crops this year.  For the wheat sector the report is mostly neutral with harvest progressing for winter wheat and crop growth around average for spring wheat.