North Gower Grains

Friday, May 23, 2025, 7:15 a.m.

Thursday was a mostly negative day for our markets.  Spot corn closed up 2 with harvest corn down 2 1/4.  Harvest soybeans closed up 3, harvest winter wheat closed down 4 3/4 and harvest spring wheat closed down 3.  In the overnight trade corn and winter wheat are negative, soybeans are mixed and spring wheat is positive.  Oil closed down $0.37 yesterday at $61.20 per barrel.  It is stronger in trading this morning with it now valued at $61.39 per barrel.  Our dollar had a low yesterday morning of $0.720 US and has trended higher since then.  This morning it is currently valued at $0.724 US.

November soybeans on the CBOT have closed positive for 8 of the last 9 days.  They are trading above both their 50 and 100 day moving averages.  Some support is coming from the recent flooding in parts of Argentina that has hurt their soybean crop.  The amount of crop lost or damaged to the flooding will not truly be known until the harvest is complete.  We should also note that their weather forecast is now warmer and dryer which should help their harvest to pick up its pace.  It is currently reported at about 39% complete.

Soybean meal has also been providing some support to the soybean complex with nearby prices on the CBOT now above the 20 day moving average and getting close to the 50 day moving average.  This market has traded higher for the last 3 trading days.  Continued strong export sales are providing support and the floods in Argentina may also be a reason for support with concerns on their soybean meal exports going forward.

Weekly export sales in the US were within trader expectations last week for corn, soybeans and wheat.  The strong pace of exports for corn and soybeans this year might still lead the USDA to increase export numbers this summer.  For soybeans China currently holds 66,000 tonnes of unshipped old crop soybeans and has zero commitments for this year’s harvest.

The markets are closed on Monday for the US Memorial Day.  Our office will remain open. 

Friday’s thought: No one is responsible for my happiness but I appreciate the ones that add to it!

If you would like to talk about the markets or price some of your crop for the future or in store, please reach out to us via phone or email to info@northgowergrains.com. Prices quoted herein are for product at our elevator.