Friday, July 18, 2025, 7:15 am

Thursday was a mostly negative day for our markets.  Harvest corn closed down 3, harvest soybeans closed up 6, harvest winter wheat closed down 7 3/4 and harvest spring wheat closed down 4 1/4.  In the overnight trade corn, soybeans and winter wheat are positive with spring wheat mixed.  Oil closed up $1.16 yesterday at $67.54 per barrel.  It is stronger in trading again this morning with it now valued at $68.14 per barrel.  Our dollar started out yesterday morning at $0.726 US and then went higher.  This morning it is currently valued at $0.729 US.

Soybean oil has closed up for 6 consecutive days reaching a new high.  This is pulling up soybean prices however the oversupply of soybean meal is the negative in the soybean complex.  Even with the record soybean crush in the US for June soybean oil stocks are at their lowest level since 2004.  Domestic demand from the biodiesel market remains strong plus world vegetable oil prices are also strong.

A report out of Russia has their wheat harvest significantly behind this year.  This in theory should be supportive wheat prices however once again prices grinded lower yesterday.  It seems with recent reports of increased supply in France, Russia and the US that the supply side is dominating this market.  Spring wheat prices have closed down for 6 consecutive days.  What it will take to bring a real rally into this market is yet to be seen.

Weather forecasts for much of the Corn Belt in the US remain favourable crop growth.  This of course has been a large negative for prices and will continue to be.  It is nice to see prices higher this morning and hopefully they can continue this for the full trading day.

Friday’s thought:  Keep your face to the sun and you will never see the shadows!

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.