North Gower Grains

Wednesday, March 25, 2026, 7:20 am

Tuesday was a mostly positive day for our markets.  Spot corn closed up 3, spot soybeans closed down 8 1/2, harvest winter wheat closed up 2 and harvest spring wheat closed up 3 1/2.  In the overnight trade corn and the wheat sector are negative with soybeans now on the positive side.  Oil closed up $4.22 yesterday at $92.35 per barrel.  It is weaker in trading this morning with it now valued at $86.80 per barrel.  Our dollar started out yesterday morning at $0.728 US and has trended lower since then.  This morning it is currently valued at $0.725 US.

Our markets have bounced around so far this week with each of them taking their turns on both the positive and negative side.  Fertilizer costs and the potential supply issues due to the current problems in the Middle East are making headlines.  This does not only include North America but really all around the world with reports this morning out of Australia and Russia.  These reports are talking about how acreage of different crops may be impacted with increased acreage of lower fertilizer requirement crops.

The war in Iran carries on with much rhetoric talk back and forth about potentially ending the war.  Supposedly the US made a 15 point plan in the negotiations that may or may not be taking place depending on who you believe.  This has most likely led to the decrease in oil prices this morning and the stronger US dollar.  We should note however that many bombings have taken place overnight with it reported that Iran had launched their 80^th bombing blitz towards Israel since this conflict has started.

There was a report on Reuter’s news late yesterday that the Trump administration will be making an announcement this morning at 11:30 am concerning ethanol.  The E15 blend is expected to be allowed for this summer instead of the current E10 maximum limit.  We should note that for the last 7 summers the different US administrations have made the same announcement each year.  The ethanol industry is looking for the Trump administration to make the E15 blend requirements permanent legislation not another temporary potential increase.  However, the ethanol industry currently does not have the domestic production capability to produce enough ethanol to fully supply an E15 blend requirement.  Any increase to this level would have to build in some expansion time for new plants to be built.  Remember also that the US ethanol industry has a robust export program that includes a steady flow of ethanol into Canada.