Elevator hours are 7 am to 5 pm this week.  Please call ahead if you would like to dump after hours.    

Friday was a mixed day for our markets.  Spot corn closed up 2 1/2, spot soybeans closed up 6 1/4, spot winter closed down 2 and spot spring wheat closed down 1/2.  In the overnight trade all of our markets are on the negative side.  Oil closed even on Friday at $58.65 per barrel.  It is weaker in trading this morning with it now valued at $58.55 per barrel.  Our dollar traded between a low of $0.712 US and a high of $0.717 US with it closing out at $0.715 US.  It is up just a bit this morning with it currently valued at $0.716 US.

With the short trading day on Friday both corn and soybeans continued the positive prices from Wednesday and closed positive.  March corn on the CBOT closed at its high for the week and the highest close since back in September.  Unfortunately our markets have pulled back this morning as many traders are returning to work after the long weekend break.

If any of our farmers have soybeans in storage on their farm this is looking like the last week that soybeans can be shipped to the Port of Johnstown and make it to the export market.  After this week prices will be pulled back big time at the port so if you would like to ship some please give us a call.  We should note that deliveries to Montreal this winter are currently not competitive with this week’s prices to the Port of Johnstown.

Last week was another positive week for our markets with strength in the CBOT and also some local basis improvements specifically in the corn market.  Harvest corn increased $7 per tonne with next year’s harvest up $2 per tonne.  Spot soybeans closed up $4 per tonne with next year’s harvest up $5 per tonne.  Spot spring wheat was up $6 per tonne with next year’s harvest closing even.  Winter wheat was even for this year and up $1 per tonne for next year.

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.