The elevator is open 7 am to 7 pm going forward (weather permitting) including weekends.

Monday was a mostly negative day for our markets.  Harvest corn closed up 2 3/4, harvest soybeans closed down 1/4, spot winter wheat closed down 2 1/2 and spot spring wheat closed down 3 1/4.  In the overnight trade corn is mixed, soybeans are positive and the wheat sector is still negative.  Oil closed up $0.81 yesterday at $61.69 per barrel.  It is weaker in the overnight trading with it now valued at $61.55 per barrel.  Our dollar continues to trade in small daily ranges.  Over the last 24 hours it has traded between a low of $0.716 US and a high of $0.717 US.  This morning it is at the high end of the range with it currently valued at $0.717 US.

The corn market has closed positive 3 of the last 4 trading days after falling to the 50 day moving average last week.  It is currently just below both the 20 and 100 day moving averages.  With harvest progressing well in the US with continued favourable harvest weather occurring it is hard to see how any significant rally can occur at least in the short term.  This market will need to see the supply side being decreased with much lower yields then previous projections in order to give a potential rally any legs.

With the government shutdown in the US currently taking place we will not see any USDA reports this week.  Normally on Monday afternoon the weekly Crop Progress Report would be released and the monthly WASDE report was to be released later this week.  Our markets will continue to trade but will have to rely on private data being released concerning yields etc.

News has come out that China has drastically reduced their hotel reservations for the upcoming summit in South Korea that President Trump has been telling everyone that he will be meeting with President Xi.  It seems if the Chinese delegation is being drastically reduced the likelihood of a trade deal being completed at this summit has been significantly reduced also.

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.