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Ontario Crops Progressing Well but Wet Soils Causing Concern

Corn and soybean crops are progressing across most of Ontario, according to the July 13 weekly update from the Grain Farmers of Ontario. However, in some areas, excess soil moisture is creating concerns. The winter wheat harvest is underway between rain showers.

Corn

Corn crops in southwestern Ontario are progressing rapidly thanks to the combination of favourable weather conditions, including rain and heat. Advanced fields are starting to show tassels (VT) breaking through, with full tassel expected shortly. However, the region experienced a drought in early June, followed by excessive rainfall, leading to crop stress and variability in soil structure across fields.

Moisture will play a vital role in the upcoming weeks, particularly during the pollination stage, which is expected to occur within the next two to three weeks.

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???? Wheat surges on drought: Prices jumped to multi-week highs as worsening dryness grips the Plains, with 70% of winter wheat in drought. Corn edged higher, while soybeans slipped.

??????? Mixed weather pattern: Rain improved parts of the Corn Belt, but drought worsened elsewhere—especially the High Plains and Kentucky. Nebraska conditions sharply deteriorated, with 56% in extreme drought.

????? Oil spikes on tensions: Crude climbed over 3% near $96 as Iran keeps the Strait of Hormuz restricted, while fragile ceasefires keep geopolitical risk elevated. ???? Pulses gain favor: Farmers are shifting to peas and lentils as a rare profit opportunity, driven by strong protein demand and lower input costs.

???? Exports mixed but solid: Corn sales dipped week-over-week but remain strong overall; soybean and wheat sales showed mixed trends, with steady global demand.