Monday, January 27, 2025, 7:30 a.m.

Friday was a negative day for our markets.  Spot corn closed down 3 1/4, spot soybeans closed down 9 3/4, harvest winter wheat closed down 10 and harvest spring wheat closed down 9 1/4.  In the overnight trade all of our markets remain on the negative side.  Oil closed up $0.04 on Friday at $74.66 per barrel.  It is weaker in trading this morning with it now trading at $74.12 per barrel.  Our dollar traded between a low of $0.694 US and a high of $0.698 US on Friday with it closing out right in that middle at $0.696 US.  This morning with some choppy trading it is back once again valued at $0.696 US.

Last week was a volatile mostly positive week for our markets.  Spot corn closed up $1 per tonne and harvest 2025 corn was up $2 per tonne.  Soybeans were the star closing up $8 per tonne for old crop and $7 per tonne for the coming harvest.  Spring wheat was down $5 per tonne on the spot market and $1 per tonne for this year’s harvest.  Winter wheat was up $2 per tonne for old crop and $3 per tonne for harvest 2025.

The markets on Friday had a fairly positive export trade report from the US to deal with.  Unfortunately this was not enough to drive prices higher.  The reduction of the export taxes in Argentina and the Trump Turmoil seemed to be enough to drive prices lower.

The marketplace is trying to kill the US winter wheat crop again.  I have seen a report that the recent cold streak across the US might have damaged up to 15% of the winter wheat planted last fall.  Every year it seems that analysts report how the winter weather is negatively affecting their wheat crop but the proof does not show up until the spring when the crop comes out of dormancy.  The same thing is occurring in Russia with reports that their winter wheat crop is being damaged this winter.  Time will have to tell these stories to their completion.

Trump Turmoil is sure to rule again this week.  Tariffs against Canada, Mexico and China are all in play and are supposed to take effect on February 1.  If the US follows up on President Trump’s threats we can only predict a negative price reaction for our commodities.  How bad it will be the markets will have to decide.

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.