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Grains Matter Chatter – Episode 231

Friday was a mostly positive day for our markets.  Harvest corn closed up 5 1/2, spot soybeans closed up 11 1/2, spot winter wheat closed unchanged and spot spring wheat closed up 3 1/2.  In the overnight trade all of our markets are on the positive side.  Oil closed up $0.08 on Friday at $69.46 per barrel.  It is weaker in trading this morning with it now valued at $69.23 per barrel.  Our dollar traded between a low of $0.693 US and a high of $0.697 US on Friday with it closing out at $0.696 US.  With some choppy trading in the overnight session it has weakened a bit with it currently valued this morning at $0.694 US.

Last week was a negative week on the CBOT for our commodities however with some stronger local basis levels some prices did go higher.  Spot corn increased $3 per tonne week over the week with next year’s harvest prices flat.  Soybeans were up $7 per tonne for this year and $5 per tonne for next year’s harvest.  Spring wheat was flat on the spot market and decreased $4 per tonne for next year’s harvest.  Winter wheat was down about $4 per tonne across the board.

After being down for the first three trading days last week soybeans rallied some on Thursday and Friday.  They were able to gain back $0.23 of the $0.25 per bushel lost on Wednesday.  Unfortunately they still closed down $0.17 per bushel for the week.  With prices hitting a 4 year low on Wednesday some bargain buying was taking place at the end of the week.  The Brazilian Government has also been taking some measures to strengthen their currency which is making their soybeans more expensive on the world market and this helped to support the CBOT.

It is nice to see our markets staying positive this morning.  Hopefully they can have a festive mood all week.  During this holiday week the markets will have limited trading.  They close early tomorrow and do not open on Christmas Day.  They also will have limited trading hours on Boxing Day.  Our office is closed both Christmas Day and Boxing Day.

If anyone wants to do a contract on Boxing Day please call me directly on my cell phone and I will look after 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.

Geoffrey Guy | 613-880-2707
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Office | 613-489-0956
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