Friday, March 21, 2025, 7:15 a.m.

Thursday was a mixed day for our markets.  Harvest corn closed up 1 1/2, harvest soybeans closed up 1/4, harvest winter wheat closed down 6 1/2 and harvest spring wheat closed down 6 1/4.  In the overnight trade corn, soybeans and spring wheat are mixed with winter wheat now positive.  Oil closed up $1.16 yesterday at $68.07 per barrel.  It is weaker in trading this morning with it now valued at $67.76 per barrel.  Our dollar started out yesterday morning at $0.695 US and then went up to $0.699 US late in the day.  It has eased back in the overnight trading with it currently valued this morning at $0.697 US.

Corn prices were higher yesterday with the nearby trading month on the CBOT up 7 cents.  This was fueled by strong weekly export sales.  US corn remains competitive on the world market with shipments this year up by about 33% from last year.  Much like the increased usage of corn in ethanol that we talked about yesterday the USDA is expected to show increased corn exports in upcoming WASDE reports.

The wheat market continues to bounce around.  The Southern Plains in the US where much of their HRW wheat crop is grown remains dry with not a lot of moisture predicted in the two week weather forecasts.  Even with this the price has pulled back over the last couple of days.  It just seems that the marketplace will not let wheat prices sustain any rally.  Market fundamentals may overall seem supportive but prices just do not show this.

We should get harvest progress numbers later today from both Brazil and Argentina.  The soybean crop in Brazil is expected to come in over 70% harvested with their corn crop nearing 50% harvest.  For Argentina their corn crop should come in around 20% harvested with their early soybean harvest just starting.

Friday’s thought: Enjoy the little things in life because one day you will look back and realize they were the big things!

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.