Friday, June 6, 2025, 7:15 a.m.

Thursday was a mostly positive day for our markets.  Harvest corn closed up 4 1/2, harvest soybeans closed up 8 1/4, harvest winter wheat closed up 2 1/4 and harvest spring wheat closed down 1/2.  In the overnight trade all of our markets have fallen onto the negative side.  Oil closed up $0.52 yesterday at $63.37 per barrel.  It is flat in trading this morning with it now valued at $63.40 per barrel.  Our dollar has traded between a low of $0.730 US and a high of $0.733 US over the last 24 hours.  This morning it is currently valued at $0.731 US.

The recent strength in our dollar has brought it to 8 months high versus the US dollar.  This might be more a case of overall US dollar weakness then strength in our dollar.  Of course the higher value of our dollar puts pressure on local basis levels and we have already seen some decreases occurring.

President Trump and President Xi had a 90 minute phone conversation yesterday that President Trump says was productive.  They supposedly mostly talked about trade issues.  Although no date or place was set they agreed to have their trade representatives get together to try and work out a new deal.

The above phone conversation was seen as positive for our commodities and helped both corn and soybeans to finish positive yesterday.  Corn was able to stay positive for the 3^rd consecutive day with it closing out just above the 50 day moving average.  Continued strong weekly export sales also helped the market.  It is widely thought that the USDA will have to increase its corn export numbers and therefore decrease projected carryout stocks with next week’s monthly WASDE report.

Prices have pulled back some this morning with a continued favourable weather forecast for the recently planted crops in the US.  Also the harvest is progressing in Argentina for both corn and soybeans and their weather forecast is projecting some favourable harvest conditions going forward.  It looks like the supply side of the marketplace is being dominant today.

Friday’s thought: You cannot shake hands with a clenched fist!  

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.