Thursday, July 17, 2025, 7:10 am

Wednesday was a mostly positive day for our markets.  Harvest corn closed up 4 1/4, harvest soybeans closed up 18 3/4, harvest winter wheat closed up 3 1/4 and harvest spring wheat closed down 1 3/4.  In the overnight trade corn and winter wheat are negative with soybeans and spring wheat both mixed.  Oil closed down $0.14 yesterday at $66.38 per barrel.  It is stronger in trading this morning with it now valued at $66.74 per barrel.  With some choppy trading our dollar has traded between a low of $0.726 US and a high of $0.731 US over the last 24 hours.  This morning it is at the low end of the range with it currently valued at $0.726 US.

Soybeans led our markets higher yesterday.  The USDA announced a flash sale of 4.4 million bushels of new crop soybeans to an unnamed destination.  Usually the unnamed destinations end up being China and if this signals their return to purchases from the US this would be a bullish sign for soybeans going forward.  We should note as prices had fallen very close to the $10 bushel mark on the CBOT the above sales might be considered some bargain shopping of which Chinese buyers have historically taken advantage of.

Wheat prices continue to struggle to find a reason for prices to rally.  The harvest in the US has caught up to their 5 year pace after being slow to get started.  Yields are reported as strong and the supply side is starting to dominate.  Yesterday I wrote how a consultant in Russia was decreasing their estimated production for this year.  Today I have seen an article that is increasing their production.  It seems that most projections are in the 84 million tonnes area but as noted the market keeps getting mixed messages.

I have been seeing many reports lately how weather around the globe has generally been good for crop growth this year.  More specifically that weather in North America has been very good for crop growth.  Then to get closer to home that weather in Ontario has been very good for crop growth.  Yesterday a report had that Ontario currently has adequate moisture for the majority of the crop land.  This is a hard pill to swallow for some farmers that I have spoken with that tell me almost no rain has fallen since early June.  It just makes me open my eyes that when the analysts generalise with their comments they always miss what is happening in some areas.  Hopefully for our farmers Mother Nature will see what is going on and will bring the required moisture to our growing areas that are badly in need of it. 

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.