With the mixed weather this week we will be closing at 5 pm today unless the combines get going.  Please call ahead if you are looking to come after 5 pm.

Wednesday was a mostly positive day for our markets.  Harvest corn closed up 3 3/4, spot soybeans closed up 12 3/4, spot winter wheat closed up 4 1/2 and spot spring wheat closed down 1.  In the overnight trade all of our markets are on the negative side.  Oil closed down $0.96 yesterday at $59.60 per barrel.  It is stronger in trading this morning with it now valued at $60.06 per barrel.  Our dollar started out yesterday morning at $0.707 US and then trended higher going up to $0.710 US in the overnight trade.  It has eased back just a bit this morning with it now currently valued at $0.709 US.

An announcement came out of China yesterday that they have reduced tariffs on soybean imports from the US down to 13%.  With this tariff soybeans from Brazil remain less expensive in China and as such they continue to purchase from Brazil exporters.  It is hard to see how China will purchase 12 million tonnes of soybeans by the end of January 2026 with the tariff in place.  Remember China normally purchases from the lowest cost provider.

It was also confirmed yesterday that China purchased a couple of cargos of US wheat this week.  This is not enough to turn around the wheat market but any sale is a good sign for the wheat market.   With wheat prices negative this morning we are seeing the sale provided little support to the market.

Weekly ethanol production in the US jumped up by a strong 3% last week up to 1.123 million barrels per day.  Blender demand was strong with exports down slightly for the week.  The net result was an increase of ethanol stocks by 1.3% up to 22.655 million gallons.  If the weekly ethanol grind was this strong every week they would utilise 5.80 billion bushels of corn which of course would be new record highs.

There is getting to be a lot of talk about the US yields this fall and the lack of data for the markets to trade with during the government shutdown.  Rumours have the shutdown ending next week just before the USDA is to release their monthly WASDE report on November 14^th.  There is also talk about how the data being released next Friday is being accumulated in different fashion from how the USDA normally accumulates its data.  Lots of little things for the analysts to think about with the bottom line being they just want data from the USDA to trade with.

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.