Wednesday, June 18, 2025, 7:40 a.m.

Our Annual Customer Appreciation Day is just 1 week away.  Wednesday, June 25, 2025.  Mark your calendar.  

Tuesday was a mostly positive day for our markets.  Spot corn closed down 3 1/4, harvest corn closed up 3 3/4, harvest soybeans closed up 7 1/4, harvest winter wheat closed up 12 1/2 and harvest spring wheat closed up 8 1/4.  In the overnight trade corn is mixed, soybeans are negative and the wheat sector is still on the positive side.  Oil closed up $1.50 yesterday at $73.27 per barrel.  It is stronger in trading again this morning with it now valued at $73.53 per barrel.  Our dollar started out yesterday morning at $0.738 US and then trended lower going down to $0.731 US late in the trading day.  It has come up just a bit in the overnight trading with it currently valued this morning at $0.732 US.

The wheat market rallied yesterday with support coming from the lower crop rating reported for the US winter wheat on Monday.  Also the slow harvest pace for this year brought some support to this market.  The weather forecast for much of the winter wheat growing region has some severe rains this week which will further delay the harvest.  It is also being reported that managed funds are liquidating some of their short position (looking for prices to go lower) and this helped prices to rally.

The corn market was mixed as old crop prices are struggling with the supply side of the market dominating.  The large crop in South America this year and what is looking like a very large crop in the US are putting pressure on prices.  The rally in new crop most likely just came from managed money liquidating some of their short position.  This liquidation is related to some of the market uncertainty caused by the two major wars currently occurring.  With no end in sight for the war between Russia and Ukraine there is continued supply concerns out of Ukraine.  The current Middle East conflict between Iran and Israel is just increasing uncertainty as until this is settled the possibility of it bringing in other combatants is large.

The soybean oil market levelled off yesterday after two days closing at limit up.  It is really interesting that soybean prices did not rally more with the strength in the soybean oil market.  This will be watched closely going forward as to how the soybean complex will balance out increased soybean oil needs with the increased soybean meal supply and how prices will be affected.

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.