Thursday, June 12, 2025, 7:00 a.m.

Our Annual Customer Appreciation Day is less then 2 weeks away.  Wednesday, June 25, 2025.  Mark your calendar.  

Wednesday was a mostly negative day for our markets.  Harvest corn closed down 1/4, harvest soybeans closed down 2, harvest winter wheat closed down 1/4 and harvest spring wheat closed up 3 1/2.  In the overnight trade corn and the wheat sector are positive with soybeans still negative.  Oil closed up $3.17 yesterday at $68.15 per barrel.  It is weaker in trading this morning with it now valued at $67.20 per barrel.  Our dollar started out yesterday morning at $0.731 US and has been trending higher since then.  This morning it is currently valued at $0.733 US.

The soybean market pulled back yesterday with nearby prices down 7 1/4 on the CBOT.  Prices started positive yesterday with good vibes coming from the somewhat successful trade talks between China and the US.  Most likely prices then pulled back with the lack of agricultural products being mentioned in the revised agreement.

It looks like the corn market is waiting for the WASDE report today to give it a bit more of a direction.  If the USDA does increase exports up to 100 million bushels and also decreases carryout stocks by the same amount this would be bullish for short term prices.  If the corresponding increase and decrease is less than 50 million bushels the effect on prices will not be nearly as strong.  Of course the next big thing for the corn and soybean markets is the planting report at the end of this month.

Weekly ethanol production in the US set a new record at 1.120 million barrels per day.  It broke the old record set in November of 2024 by 1,000 barrels per day.  Exports were also up from the previous week and came in at 151,000 barrels per day.  Stock levels decreased 2.9% week over week to come in at 23.73 million barrels (0.997 billion gallons) due to increased domestic demand.

On the trade front mainline media are reporting that Canada and the US are working on an agreement with some possible positive outcomes before the G7 meeting coming up early next week.  There is also talk that the US is negotiating many other trade agreements at the same time however we should remember that so far they have only made the one agreement between them and the UK.

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.