North Gower Grains

Tuesday, October 20, 2026, 7:10 am

Monday was yet another negative day for our markets.  Harvest corn closed down 7 1/4, harvest soybeans closed down 7 3/4, spot winter wheat closed down 5 1/4 and spot spring wheat closed down 6 1/2.  In the overnight trade corn, soybeans and winter wheat are positive with spring wheat on both sides of the ledger.  Oil closed up $2.25 on Friday at $103.66 per barrel.  It is stronger again this morning with it now priced at $108.86.  Our dollar had a low yesterday afternoon of $0.709 US and has trended higher since then.  This morning it is currently valued at $0.712 US.

Our markets continued to flounder yesterday as they seem to be trading the good weather conditions over much of the US Corn Belt.  This is allowing the US harvest to continue which is bringing a glut of supply to the marketplace.  Remember the USDA increased the corn yield last week and is also projecting a new record high soybean yield and production.  As we mentioned yesterday Managed Money continues to liquidate their large long positions and this is putting more negative price pressure on our commodities. 

The USDA released their weekly Crop Progress Report yesterday.  The corn harvest increased 11% week over week to sit at 44% complete.  This is well behind its 5 year average of 52% harvested for this time of the year. 

The soybean harvest increased 18% week over week to come in at 64% complete.  This compares very favourable with the 5 year average of 65% harvested.

Winter wheat plantings increased from 51% last week up to 63% this week.  This compares to their 5 year average of 69% planted for this time of the year.

This report should be considered mostly neutral for our crops.  The corn harvest was a bit slower than expected however the soybean harvest jumped up to match the 5 year average.  Wheat planting keeps moving on with no major surprises.  With favourable cropping conditions over much of the US this week we should continue to see both harvest progress for the row crops and planting progress for the winter wheat.

One final note this morning was an announcement by President Trump last night of an $8 billion harvest fuel relief program for US farmers.  Once again the US administration steps forward to support their farmers.  It would be nice to see our government bring forward a program to help offset rising fuel prices.

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