Elevator hours this week will depend on both weather and if the combines are rolling.  Please call ahead if you are planning on coming after 5 pm.  

Monday was a mostly negative day for our markets.  Harvest corn closed down 3/4, spot soybeans closed down 1 3/4, spot winter wheat closed down 4 3/4 and spot spring wheat closed up 2 3/4.  In the overnight trade all of our markets are on the positive side.  Oil closed up $0.78 yesterday at $58.84 per barrel.  It is weaker in trading this morning with it now valued at $58.51 per barrel.  Our dollar traded in a very narrow range over the last 24 hours between a low of $0.708 US and a high of $0.709 US.  This morning it is at the low end of the range with it currently valued at $0.708 US.

It was a pretty quiet day yesterday for our markets.  This is a shortened trading week in the US with their Thanksgiving Holiday on Thursday.  All of our markets traded on both sides of even yesterday with no big moves in prices.  There was another small soybean sale announced to China but it was not enough to drive prices higher.

President Xi and President Trump had a phone call yesterday.  This time they both reported that things went well on the phone.  Of course President Trump stated that the call and the ‘trade pact’ would be great for the American Farmers.  It was also reported that they would signing the ‘trade pact’ within the next two weeks.  Hopefully the actual signing will bring down tariffs between the two countries to help facilitate more agricultural trade.

The USDA released their last weekly Crop Progress Report yesterday for the year.  They reported their corn harvest at 96% complete.  This is up from 91% last week but is behind both last year’s 100% and the 5 year average of 97% complete.  The soybean harvest was not reported on as they feel that it is completed now.

For their winter wheat crop the good to excellent rating increased 3% week over week to come in at 48%.  Last year at this time this crop had a 55% good to excellent rating.  They also reported that 97% of this crop is now planted.  This is up from 92% last week and is right in line with the 5 year average of 97% planted.

This report is neutral for corn and soybeans with harvest almost fully completed.  For winter wheat the report is slightly negative with the increased good to excellent rating.

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.