Thursday, March 13, 2025, 7:35 a.m.

Wednesday was another negative day for our markets.  Harvest corn closed down 6 1/4, harvest soybeans closed down 9, harvest winter wheat closed down 2 1/4 and harvest spring wheat closed down 3 1/4.  In the overnight trade all of our markets have bounced back to the positive side.  Oil closed up $1.43 yesterday at $67.68 per barrel.  It is weaker in trading this morning with it now valued at $67.49 per barrel.  Our dollar started out yesterday morning at $0.693 US and then traded higher going up to $0.697 US early in the afternoon.  It has stayed within that range since then with it currently valued this morning at $0.696 US.

Our markets traded lower yesterday and were pulled that way by negativity caused by outside events.  Of course this was more tariff talk and reactions.  After the US implemented tariffs on steel and aluminum imports the EU responded with counter tariffs on a wide range of products that included corn and soybeans.  The market immediately responded with a turn down.  Of course President Trump has threatened to increase their tariffs when this occurred.  We should also point out that Canada responded with more tariffs also however they did not include any agricultural products.

The corn market fell below its 100 day moving average yesterday.  On the supply side for corn there is also the anticipation that the US Farmer will grow over 94 million acres this year.

The soybean market also pulled back hard with the tariff news.  It closed yesterday below the $10 per bushel mark on the CBOT which is seen as a support line.

It is nice to see this morning that our markets have bounced back some.  Both corn and soybeans received some support with production cuts projected for this year’s crop out of Argentina.  Latest numbers have soybean production being lowered by 1 million tonnes down to 46.5 million tonnes and corn production by 1.5 million tonnes down to 44.5 million tonnes.

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.