Elevator hours this weekend will depend on the weather.  If in doubt please call ahead to the office, 613-489-0956, or Ronald at 613-880-7456.  

The markets were closed yesterday for the American Thanksgiving Holiday and will reopen this morning at 9:30 am.  Wednesday was a mostly positive day for our markets.  Harvest corn closed up 7, spot soybeans closed up 6 3/4, spot winter wheat closed up 1 1/4 and spot spring wheat closed down 2 1/4.  Oil closed up $0.70 on Wednesday at $58.65 per barrel.  It is stronger in trading again this morning with it now valued at $59.08 per barrel.  Our dollar traded in a very small 10 basis point range yesterday between a low of $0.712 US and a high of $0.713 US.  This morning it is at the low end of the range with it currently valued at $0.712 US.

It will be really interesting to see this morning how our markets open up after being closed for the holiday.  The positive close for corn and soybeans was really nice to see on Wednesday.  A lot of times before the mid-week holiday you will see the markets pull back a bit as they take some risk off the table before a break in trading.  With the markets closing early again today and many traders off for a long weekend it would be nice if the positive action could continue.

Reports out of Brazil have their soybean crop at 80% planted.  This is up from 70% last week but is lagging behind both last year’s 86% planted at this time and the 5 year average of 84% planted.  We should also note that soybean acreage is expected to expand this year in Brazil by about 2.5 million acres.  With the expanded acres and good growing weather prospects so far total production is expected to increase up to 178 million tonnes from roughly 172 million tonnes this year.

Grain Farmers of Ontario is reporting that the corn harvest in Ontario is 81% complete.  This is up from 63% last week.  No actual number was given for last year but their report stated that harvest was essentially rapped up at this time.  This year in our area I would estimate that the corn harvest is slightly over 90% complete.

Friday’s thought: You cannot calm the storm, so stop trying.  What you can do is calm yourself.  The storm will pass!

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.