North Gower Grains

Monday, October 26, 2026, 7:15 am

Friday was a mixed day for our markets.  Harvest corn closed down 4 1/2, harvest soybeans closed up 3 1/2, spot winter wheat closed up 1/4 and spot spring wheat closed down 1/4.  In the overnight trade corn, soybeans and spring wheat are negative with winter wheat now on the positive side.  Oil closed up $3.70 on Friday at $103.27 per barrel.  It is weaker this morning with it now priced at $100.86.  Our dollar traded between a low of $0.713 US and a high of $0.716 US on Friday with it closing out at $0.714 US.  With some choppy trading in the overnight session it is once again valued at $0.714 US. 

Soybeans are down hard again this morning with the surprise re-election of the current Brazilian President.  This has resulted in some major negative pressures on the Brazilian currency which will make their exports more affordable on the world market.  This of course includes soybeans which Brazil is the largest exporter on the world market.  Hopefully this market can stabilise today.    

Managed money continues to liquidate their long position (looking for prices to go up) and this is contributing to the negative trend in the corn market.  Prices have now fallen almost $1 per bushel on the CBOT in the last seven weeks since the high was made back in August.  The two largest negatives for this market truly is the great harvest weather in much of the US that is bringing ample supplies to the marketplace and that corn export sales are well behind last year’s pace in the US. 

We should also note that the USDA noted on Friday that they made some processing errors with their yield data for corn in the September WASDE report.  This resulted in higher yields for Nebraska and a lower yield in Kansa.  The net result was a higher national yield of 0.3 bushels per acre up to 178.8 bushels per acre.  They also did not change the data for October and are sticking with the current projection of 181.2 bushels per acre. 

The winter wheat market has lost about $1.60 per bushel since the highs were made at the end of August.  This market continues to be pressured by the prospects of the war ending between Russia and Ukraine and how this would result in grains flowing into the world market full speed from the Black Sea region.  It is interesting that the analysts say this is a negative for the market and then they will say that any war premium is very insignificant at this time.  After the summer highs the wheat market has just struggled to find any strong reason to bring prices back up or stop them from falling further. 

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