North Gower Grains

Thursday, August 13, 2026 7:10 am

Wednesday was a nice strong positive day for our markets.  Harvest corn closed up 20 1/4, harvest soybeans closed up 14 1/2, harvest winter wheat closed up 22 1/2 and harvest spring wheat closed up 13 3/4.  In the overnight trade corn is negative with soybeans and the wheat sector still on the positive side.  Oil closed up $0.07 yesterday at $83.27 per barrel.  It is weaker in trading this morning with it now priced at $81.45.  Our dollar had a high of $0.719 US yesterday before noon and a low of $0.716 US in the overnight trading.  It has come back up just a bit since then with it currently valued this morning at $0.717 US. 

The USDA released their monthly WASDE report yesterday and they did change production estimates for the three big crops. 

Corn – The average yield projection was decreased from 183 bushels down to 180.7 bushels.  Unfortunately they found another 1.2 million acres of corn to be harvested this year.  The net result was increased total production with it being the second largest US crop ever.  The USDA amended export levels and this resulted in a balance sheet with ending stocks about 15% lower than the previous year.  World production levels were only slightly altered.

Soybeans – Average production was decreased from 53 bushels per acre down to 52.9 bushels per acre.  Harvested acres were increased by 1.4 million acres resulting in a new US production record.  Crush levels were increased for both the current and new marketing years.  Net result was only small changes were made to both the domestic and world balance sheet.

Wheat – Domestic production was slightly decreased and they really did not deal with the current problems with shipments out of the Black Sea.  They increased exports from some other countries (Canada) and decreased amounts being imported by major importers.    

The Chinese factor was not really dealt with in this report.  No significant changes with possible increased imports from the US on any of the commodities. 

This report really was supportive for all of our commodities with it being most supportive for the corn market.  Many analysts are saying the USDA did not deal severely enough with production decreases in both the US and the EU and with this the analysts are bringing in even more support for the markets.

It was interesting how the markets rallied yesterday and are mostly flat this morning.  Although the news was supportive yesterday and will generally continue to be supportive it was not enough to sustain a large rally. 

Geoffrey Guy | 613-880-2707
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956