Monday, June 16, 2025, 7:20 a.m.

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

Friday was a nice positive day for our markets.  Harvest corn closed up 2 1/2, harvest soybeans closed up 27 1/2, harvest winter wheat closed up 17 1/4 and harvest spring wheat closed up 13 1/2.  In the overnight trade corn and the wheat sector are negative with soybeans mixed.  Oil closed up $4.94 on Friday at $72.98 per barrel.  It is weaker in trading this morning with it now valued at $72.12 per barrel.  Our dollar traded between a low of $0.733 US and a high of $0.737 US on Friday with it closing out at $0.736 US.  With some choppy action in the overnight trading it is currently valued this morning once again at $0.737 US.

Last week was a mixed week for our markets between volatility on the CBOT and some basis decreases with the value of our dollar increasing.  Spot corn closed up $1 per tonne with this year’s harvest down $6 per tonne and next year’s harvest down $2 per tonne.  Spot soybeans closed up $4 per tonne with this year’s harvest up $2 per tonne and next year’s harvest up $4 per tonne.  Spring wheat was down $1 per tonne for the spot market and $4 per tonne for this year’s harvest.  Winter wheat was down $5 per tonne for the spot market and $7 per tonne for this year’s harvest.

Soybean prices rallied on Friday with the announcement of the new increased biomass based diesel mandate in the US by the EPA.  Soybean oil futures closed limit up on Friday and this pulled up the soybean market.  The marketplace was concerned that the new mandate may have been much unchanged from the old mandate and was pleasantly surprised with the large increase.  They increased the mandate from 3.35 billion gallons for 2025 up to 5.61 billion gallons in 2026 and 5.86 billion gallons in 2027.

The Weekly Crop Progress Report gets released later today and the marketplace will be watching closely to see the numbers reported.  It is widely expected that the crop ratings will continue to increase for all of our crops with the mostly beneficial for growth weather that the US farmer has been experiencing.

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.