Geoff is off, please contact Delores, Bob, Tony or the office for any marketing needs. Contact info below.
Finally, a positive day in our markets. Rallies were led by some corn and wheat export announcements yesterday. New crop corn sales are on fire, with close to 125 million bushels already on the books for this coming year. The managed money folks are still sitting short on the December corn contract but were taking some risk off the table yesterday, leading up to next Tuesday’s USDA report. The market is still bearish — this is just a short-covering bounce.
Wheat had a similar story to corn yesterday — not nearly the same volume of export sales announced, but around 27.6 million bushels are on the books. There was also some news of Russia experiencing logistics issues and poor-quality, low-test weight wheat, resulting in much of their crop being downgraded to feed grade. This has added support to U.S. wheat prices.
Locally, we are hot and dry and ready for a good soaking. We saw last year that the weather in late August and early September can still have a big impact on crops. Fingers crossed we get some precipitation in the next few days and weeks.
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.
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Tony Mitchell | 613-227-2525
Office | 613-489-0956
