North Gower Grains

Friday, August 28, 2026. 7:25 am

Thursday was a mostly positive day for our markets.  Harvest corn closed down 3, harvest soybeans closed up 2, harvest winter wheat closed up 12 1/2 and harvest spring wheat closed up 9 3/4.  In the overnight trade all of our markets are on the positive side.  Oil closed up $0.30 yesterday at $82.53 per barrel.  It is stronger in trading again this morning with it now priced at $83.14.  Our dollar started our yesterday morning at $0.720 US and has trended higher since then.  This morning it is currently valued at $0.722 US. 

Soybeans closed yesterday at a new November high for the second consecutive day.  They were supported more export sale announcements with the majority of the sales being to China.  It is estimated that China has now purchased over 10 million tonnes of the targeted 25 million tonnes.  Many analysts are expecting the current purchases to continue with this being a positive for US / China relations prior to the two presidents getting together in late September. 

The wheat market started out yesterday morning on the negative side but rallied once again on reports of increased bombings by Russia on Ukraine grain shipping infrastructure.  Estimates for grain shipments out of those two countries for the month of August are around 35% of last year’s levels.  With reports that upwards of 400 ships are currently being held up from shipments out of the Black Sea region it will be very interesting to see how this market reacts going forward.

Although the corn market had a small negative yesterday the positive trend in this market is still our friend.  The lower yield in the US to come off this fall is providing support for this market.  When the analysts take into account the possibility of reduced shipments out of the Ukraine this winter this provides more support for corn prices on the CBOT.  With strong global demand this is another market that should stay strong. 

There are reports out of China of weather issues this year that will result in lower production for their corn and soybean crops.  This should result in some increased imports of both products.  Remember this is so only if we can believe the reports out of China about production levels.  As always we should never count on China however when they come to the market they usually come in big time and can drastically affect the price structure.  This is definitely something that the marketplace will be watching going forward.

Friday’s thought: If you know how to spend less than you get, you have the philosopher’s stone!

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