Friday was a positive day for our markets. Harvest corn closed up 8, harvest soybeans closed up 6 1/4, harvest winter wheat closed up 4 and harvest spring wheat closed up 2 1/2. In the overnight trade corn and spring wheat are mixed, soybeans are positive and winter wheat is negative. Oil closed up $0.30 on Friday at $65.54 per barrel. It is weaker in trading this morning with it now valued at $65.29 per barrel. Our dollar traded between a low of $0.728 US and a high of $0.733 US on Friday with it closing out at $0.730 US. This morning it is a bit stronger with it currently valued at $0.731 US.
Last week was a negative week for our markets. Spot corn closed down $5 per tonne with both harvest 2025 and 2026 down $6 per tonne. Spot soybeans closed down $14 per tonne with both harvest 2025 and 2026 down $12 per tonne. Spot spring wheat was down $11 per tonne with this year’s harvest down $10 per tonne. Winter wheat was down $15 per tonne across the board.
After four big down days it was nice to see our markets positive on Friday. However, nothing really changed on Friday to drive prices higher. Most likely it was more a case of traders (managed money) cashing in some of their positions and more or less stepping back for a day.
Today the USDA releases their Quarterly Stocks Report but more importantly they also release the Planted Acres Report. Taken together these two reports can move our markets significantly when they surprise the marketplace.
There is talk that both corn and soybeans could see some increased acreage as compared to the Planting Intentions Report that was released at the end of March. As we noted above this report can move the market with soybeans closing limit up on report day as recently as 2021.
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.
Delores Seiter | 613-880-7458
Bob Orr | 613-720-1271
Office | 613-489-0956
