Friday was a nice positive day for our markets. Harvest corn closed up 6 3/4, harvest soybeans closed up 9 1/4, harvest winter wheat closed up 12 3/4 and harvest spring wheat closed up 1/2. In the overnight trade corn and soybeans are negative with the wheat sector still on the positive side. Oil closed down $0.20 on Friday at $67.34 per barrel. It is weaker in trading again this morning with it now valued at $67.25 per barrel. Our dollar traded between a low $0.728 US and a high of $0.730 US on Friday with it closing out at the low end of the range. With some choppy trading in the overnight session it is just a bit stronger this morning with it currently valued at $0.729 US.
Last week was a mixed week for our markets. Spot corn closed up $5 per tonne with this year’s harvest up $6 per tonne and harvest 2026 up $4 per tonne. Soybeans were up $10 per tonne on both the spot market and this year’s harvest. Harvest 2026 was up $8 per tonne. Spring wheat was down $6 per tonne for this year’s harvest and $1 per tonne for next year. Winter wheat was flat for the current harvest and down $1 per tonne for next year’s harvest.
Our markets were positive on Friday but pulled back as the trading day progressed. Not a lot of news for the markets to trade with. It was probably just some repositioning of funds before the weekend. They likely took some profit and with this took some risk off the table. Weather forecasts going forward are mixed but generally favourable crop growth.
Later today the USDA will be releasing their weekly Crop Progress Report. It is widely expected that we will see increased good to excellent ratings and good progress with the winter wheat harvest.
The corn harvest in South America continues to progress well. Reports out of Brazil have their safrinha corn harvest at about 70% complete. For Argentina reports on Friday have their corn harvest at 79% complete. There have also already been reports of corn from Argentina being exported to China. It was just earlier this year that China agreed to allow imports of corn from Argentina after being banned for many years.
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.
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956
