North Gower Grains

Monday, March 17, 2025, 7:25 a.m.

Friday was a mixed day for our markets.  Harvest corn closed down 1 1/4, harvest soybeans closed up 6 1/4, harvest winter wheat closed down 5 1/4 and harvest spring wheat closed down 1/4.  In the overnight trade all of our markets have made it to the positive side.  Oil closed up $0.62 on Friday at $67.18 per barrel.  It is stronger in trading again this morning with it now valued at $68.05 per barrel.  Our dollar traded between a low of $0.692 US and a high of $0.698 US on Friday with it closing out at $0.696 US.  In the overnight trade with some choppy trading it is up just a bit with it currently valued at $0.697 US.

With all the volatility last week our markets ended up mixed.  Spot corn was up $4 per tonne with harvest 2025 down $1 per tonne and harvest 2026 even over the week.  Spot soybeans were down $3 per tonne with harvest 2025 down $2 per tonne and harvest 2026 up $1 per tonne.  Spring wheat was up $3 per tonne on the spot market and $4 per tonne for this year’s harvest.  Winter wheat was up $1 per tonne for the spot market and $3 per tonne for this year’s harvest.

Soybeans rallied some on Friday but still ended the week on the negative side.  The $10 per bushel mark on the CBOT remains an area of support for the soybean market.   It tested that level again last week and bounced back up from it.  We should point out that the USDA is projecting larger crops in Brazil and Argentina then their local analysts.  Although this seems strange over the last few years the USDA has consistently been higher than CONAB in Brazil with their projections.  Remember the market will trade with USDA’s numbers until they amend them.  For Argentina one group lowered their projections on Wednesday then another group left them unchanged on Friday.  When they cannot agree it is not that much of a news item if the USDA has a different number.

This morning the wheat market is leading our commodities higher.  We talked last week how US wheat is now attractive on the world market due to the current low price and also how the current HRW wheat crop coming out of dormancy is under stress due to dry weather.  These two factors seem to be driving the wheat market again this morning.

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.