Tuesday, June 17, 2025, 7:20 a.m.

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

Monday was a mostly negative day for our markets.  Harvest corn closed down 8, harvest soybeans closed up 5 3/4, harvest winter wheat closed down 7 1/4 and harvest spring wheat closed down 9 1/4.  In the overnight trade corn is mixed, soybeans and spring wheat are negative and winter wheat is alone on the positive side.  Oil closed down $1.21 yesterday at $71.77 per barrel.  It is stronger in trading this morning with it now valued at $73.03 per barrel.  Our dollar traded between a low of $0.736 US and a high of $0.738 US over the last 24 hours.  This morning it is right in the middle of the range with it currently valued at $0.737 US.

Soybean oil closed limit up yesterday for the second consecutive trading day.  This was in response to the increased EPA guidelines for biodiesel announced on Friday.  Unfortunately soybeans were not as strong as soybean meal is currently being the weak partner in the soybean complex.  As more and more soybeans get crushed in the US to produce the much required soybean oil the industry is going to have find markets for their increased soybean meal production.

Yesterday the USDA released their weekly Crop Progress Report.  The good to excellent rating for their corn crop increased 1% week over week to sit at 72%.  Last year at this time their corn crop also had a 72% good to excellent rating.  They also reported that 94% of the crop is now emerged.  This is up from 87% last week and compares to 92% at this time last year and the 5 year average of 94% emerged.

For their soybean crop the good to excellent rating actually decreased 2% week over week to sit at 66%.  Last year at this time it had a 70% good to excellent rating.  They also report that 93% of this crop is now planted.  This is up from 90% last week and compares to last year’s 92% and the 5 year average of 94% planted.

The good to excellent rating for their spring wheat crop came in at 57% which was up 4% from last week.  Last year at this time this crop had a 76% good to excellent rating.  They also report that 89% of this crop is now emerged.  This is up from 82% last week and is slightly behind last year’s 94% and the 5 year average of 92% emergence.

Winter wheat’s good to excellent rating decreased 2% week over week to come in at 52%.  Last year at this time it had a 49% good to excellent rating.  They also report that they have now completed 10% of the harvest.  This is up from 4% last week but lags behind both last year’s 25% complete and the 5 year average of 16% complete.

This report should be considered bearish prices for corn and spring wheat with the increased good to excellent ratings.  For soybeans and winter wheat the report is more bullish prices with the respective decreases in their good to excellent ratings and the slow harvest for the winter wheat crop. 

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.