North Gower Grains

Monday, September 28, 2026, 7:40 am

Friday was a mixed day for our markets. Harvest corn closed up 3/4, harvest soybeans closed up 1 1/2, spot winter wheat closed down 3 3/4 and spot spring wheat closed down 6 3/4. In the overnight trade all of our markets are on the negative side. Oil closed down $2.20 on Friday at $92.14 per barrel. It is stronger in trading this morning with it now priced at $95.79. Our dollar was very flat in its trading on Friday with it closing out unchanged for the day at $0.707 US. It is a bit weaker this morning with it currently valued at $0.706 US.

Our markets traded big time on the negative on Friday morning then rallied as the trading day progressed. They rallied after it was announced that a fact sheet would be released about any new trade arrangements with China negotiated during the summit between the two leaders that ended on Friday. This announcement was enough to bring prices up with some of our markets 20 cents lower at that time. Just the thought that something positive was coming out of the meetings was enough to drive prices on Friday.

The announcement over the weekend included an agreement to drop some country specific tariffs between the two countries. This did include some agricultural products (corn, wheat, beef) being imported into China. It should be noted that soybeans were omitted from the new duty free import list and this is taken as a negative for our markets. As the market dissects the announcement prices are down this morning. Without any big positive news from the summit the market will now be looking for something new to trade on.

Wheat prices are not getting much support out of the continued lack of exports out of the Black Sea. Crude oil prices continue to whipsaw up and down with the latest peace plan between the US and Iran not getting much traction. Later today the USDA will release their Weekly Crop Progress Report and this should show some delayed harvest in the US Corn Belt due to the recent excessive rains. This in theory should bring some support to the marketplace but as always we never truly can predict how the markets will react to any news.

To summarize the current situation prices still are historically attractive. The lack of a new trade agreement that increased agricultural sales from the US to China was definitely a disappointment. This has most likely taken the top off prices going forward. Remember that the balance sheet for our commodities remains supportive prices and this should keep a strong floor on prices.

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