Monday, June 2, 2025, 7:15 a.m.

Friday was another mixed day for our markets.  Harvest corn closed down 2 3/4, harvest soybeans closed down 10 1/2, harvest winter wheat closed unchanged and harvest spring wheat closed up 9 1/4.  In the overnight trade corn is mixed, soybeans are negative and the wheat sector is on the positive side.  Oil closed down $0.15 on Friday at $60.79 per barrel.  It is stronger in trading this morning with it now valued at $63.33 per barrel.  Our dollar traded between a low of $0.723 US and a high of $0.729 US on Friday with it closing out at $0.727 US.  It is stronger in the overnight trading with it currently valued this morning at $0.730 US.

Soybeans pulled back on Friday with President Trump stating that China has not lived up to their side of lowering tariffs during the 90 day negotiation window for a new trade deal.  It has also been reported that no real progress is being made in the trade talks with much talk that the two leaders are going to have to get together to make things happen.  The above helped to pull soybeans lower with thoughts that future sales to China are in jeopardy.   These same thoughts are likely keeping soybeans on the negative this morning.

The soybean oil market also struggled on Friday for a few different reasons.  The lack of any announcement out of the Trump administration on the biofuel credits and a new mandate going forward hurt this market.  Also decreased US soybean oil consumption levels for March of this year was a negative for the market.  Of course the trade issues with China mentioned above are also a concern.

Last week was a mostly negative week for our markets.  Spot corn was down $6 per tonne with this year’s harvest down $5 per tonne and next year’s harvest down $2 per tonne.  Spot soybeans were down $7 per tonne with this year’s harvest down $9 per tonne and next year’s harvest down $5 per tonne.  Spring wheat went up $5 per tonne for both this and next year’s harvest.  Winter wheat was down $3 per tonne for this year’s harvest and $4 per tonne for next year’s harvest.

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.