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

Wednesday was a positive day for our markets.  Harvest corn closed up 3 1/4, harvest soybeans closed up 4, spot winter wheat closed up 3 1/2 and spot spring wheat closed up 3.  In the overnight trade all of our markets remain on the positive side.  Oil closed up $0.68 yesterday at $58.50 per barrel.  It is stronger in trading again this morning with it now valued at $61.63 per barrel.  Our dollar started out yesterday morning at $0.713 US and then went up to $0.715 US before noon.  It has traded within that range since then.  This morning it is currently valued at $0.715 US.

More reports out of the US administration about trade talks with China.  President Trump has once again stated that they will be able to make a ‘Great Deal’ when they get together at the upcoming APEC summit in South Korea.  However, he also stated that maybe they will not even meet and a deal would not be completed.  There was also talk about high level diplomats meeting sometime this week in Malaysia.  It seems that this meeting might be very important for the parties to make some progress so that a meeting between the two leaders later in the month could possibly finalise a deal.

As the soybean marketplace continues to be focused on a potential trade deal between the US and China and how it could affect prices this year, the supply side for 2026 is looking like it is ready to dominate again.  Forecasts out of Brazil keep increasing the potential size of the crop that is currently being planted.  The Brazilian oilseed group, Abivoe has projected the 2025/26 soybean harvest at a record high 178.5 million tonnes.  This year’s harvest was reported at 171.8 million tonnes.  We should also note that early projections for 2026 intended acres in the US has soybeans increasing up as much as 5 million acres from this year as the high cost of inputs etc. will be pulling down US corn acres.  How the market will respond to the potential of a much larger supply next year is yet to be seen.

Weekly ethanol production surged 3.5% last week in the US to come in at 1.112 million barrels per day.  This was just short of a record high weekly production and was the highest since early June of this year.  Both domestic demand and exports were also stronger over the week which resulted in a draw down in ethanol stocks of 3.1% to 21.92 million barrels.  The above numbers are very bullish for the ethanol market going forward which is very supportive for corn demand and prices also.

Crude oil prices surged over the last day as the US Government has sanctioned Russia’s main oil producers / exporters.  They are also pressuring both India and China to curtail their respective oil purchases from Russia.  Finally, they also announced that they would be replenishing government owned stocks of crude oil.  All of the above were factors in the crude oil price increase.  Hopefully it does not keep going as we all know it would affect our costs going forward.

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.