Tuesday, March 11, 2025, 7:25 a.m.

Monday was a mostly positive day for our markets.  Harvest corn closed up 3/4, harvest soybeans closed down 7 3/4, harvest winter wheat closed up 11 3/4 and harvest spring wheat also closed up 11 3/4.  In the overnight trade corn and soybeans are now positive with the wheat sector on the negative side.  Oil closed down $1.01 yesterday at $66.03 per barrel.  It is stronger in trading this morning with it now valued at $66.66 per barrel.  Our dollar had a high yesterday morning of $0.696 US and then went down to $0.691 US in the afternoon.  It has bounced back since then with it currently valued this morning at $0.694 US.

Wheat prices were supported yesterday with a warm weather pattern coming over much of the US.  This is expected to bring their winter wheat crop out of dormancy.  It has been reported that roughly 25% of the winter wheat crop is in areas that are currently very dry.  The breaking dormancy crop will immediately be under some growing stress with the lack of moisture and this could affect yield going forward.

Of course the market also traded yesterday with the tariff thoughts hanging over everything.  China is going ahead with new tariffs against Canada and has maintained their current tariffs against the US.  How all the different potential tariffs will affect our grain markets is definitely unknown at this time.

The USDA will be releasing their monthly WASDE report today.  As we noted yesterday many analysts are looking for a small decrease in US corn carryout stocks due to both strong corn exports this marketing year and continued strong ethanol grind.  Any changes being made to the carryout numbers for soybeans is expected to be minimal.  World stock levels are expected to increase for soybeans based on the strong crop this year in Brazil.

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.