Excessive moisture in parts of Ontario
Moderate to heavy rains fell in southwestern Ontario in the first half of September, which provided moisture for the filling of row crops across the region, with amounts ranging from 50 to 100 mm. The Niagara region reported amounts of 25 to 50 mm while eastern Ontario was mostly in the 40 to 60 mm range. The moisture is becoming excessive in parts of southwestern Ontario, with amounts over the past month ranging from 150 to 200 per cent of normal.
Above-normal temperatures persisted in late August and early September, with highs mostly in the upper 20s and low 30s C. The second week in September saw more moderate temperatures move into southern Ontario with highs in the low to mid-20s. The mild temperatures have helped row crops advance rapidly, with soybeans nearing maturity. The current long-range forecast is calling for moderate temperatures to continue through the end of the month.
Corn prices fall 10 cents
Corn futures have lost nearly 10 cents per bushel over the past two weeks but remain close to recent market highs. The December contract is currently trading just below the US$5.30/bushel mark. Despite the drop in prices, corn is still trading near the highest levels since June of 2023. Corn futures were under pressure despite a relatively bullish U.S. Department of Agriculture report on Sept. 11.
Managed money funds have reduced their net long position by 5,891 contracts during the week ended Sept. 8, which was partially responsible for the pressure on the corn market. Funds still hold a near-record long corn position going into the 2026 harvest.
The USDA supply-demand report provided support for the corn market by dropping corn yields by 2.2 bushels per acre to 178.5 bushels per acre. This lowered total production to 15.8 billion bushels. USDA also lowered domestic use by 150 million bushels to 12.9 billion. Tighter ending stocks were forecast, with USDA projecting 1.57 billion bushels for the 2026-27 crop year. This is very supportive of corn values in the coming weeks.
The post Bruce Burnett’s Ontario weather and markets, Sept. 23 appeared first on Farmtario.
