The elevator is open 7 am to 7 pm going forward (weather permitting) including weekends.

Thursday was a mostly positive day for our markets.  Harvest corn closed up 5, harvest soybeans closed up 4 1/4, spot winter wheat closed up 3 3/4 and spot spring wheat closed down 1 1/2.  In the overnight trade corn, soybeans and winter wheat are positive with spring wheat mixed.  Oil closed down $0.81 yesterday at $57.46 per barrel.  It is weaker in trading again this morning with it now valued at $57.27 per barrel.  Our dollar has traded in a very narrow 10 basis point range over the last 24 hours bouncing back and forth from $0.711 US to $0.712 US.  This morning it is at the high end of the range with it currently valued at $0.712 US.

There seems to be some optimism growing in the soybean market that a trade deal will be made between the US and China that will support this market.  China currently needs about 9 million more tonnes of soybeans to carry them over until new crop soybeans are available in January of 2026 from Brazil.  It seems that China is being a slow purchaser of soybeans from Brazil at this time as they are priced at about a $1 US premium over soybeans from the US.  They could be looking to draw down their soybean reserves or are possibly waiting on some positive progress with a potential trade deal.  We should note that currently China has a 34% tariff on any soybean imports from the US.  With all the back and forth political rhetoric talk currently between the two countries it is sometimes hard to imagine that they will be able to agree upon a substantial trade deal at this time.

Corn prices have rallied back to just above their 100 day moving average price on the CBOT yesterday.  As the US harvest approaches the 50% complete range the marketplace seems to be responding to more reports of yields being affected by disease pressure.  Although this pressure is not affecting every acre is has affected enough acres for the majority of analysts to be decreasing their projections for the size of the US crop this fall.  How much of a decrease it will end of being is yet to be seen.

Locally the push to finish up the soybean harvest is on before what is looking like a wet start to next week.  Corn harvest is picking up and I am happy to report that the quality of the corn coming into the elevator has for the most part been excellent.  The majority of the corn has been between 19% and 25% in moisture.  We will be open all weekend so keep those combines rolling.

Friday’s thought:  It is your road and yours alone.  Others may walk it with you but no one can walk it for you!

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.