Monday, June 9, 2025, 7:30 a.m.

Friday was a positive day for our markets.  Harvest corn closed up 1, harvest soybeans closed up 3 3/4, harvest winter wheat closed up 9 1/4 and harvest spring wheat closed up 8.  In the overnight trade corn and the wheat sector are negative with soybeans mixed.  Oil closed up $1.21 on Friday at $64.58 per barrel.  It is stronger in trading again this morning with it now valued at $64.81 per barrel.  Our dollar traded between a low of $0.730 US and a high of $0.732 US on Friday with it closing out at $0.731 US.  With some choppy trading in the overnight session it is once again valued this morning at $0.731 US.

Last week was a mostly positive week for our markets with the CBOT varied and some local basis decreases.  Spot corn closed down $1 per tonne with this year’s harvest up $2 per tonne and next year up $6 per tonne.  Spot soybeans closed up $6 per tonne with this year’s harvest up $2 per tonne and next year’s harvest up $3 per tonne.  Spring wheat was up $4 per tonne on the spot market and $2 per tonne for this year’s harvest.  Spot winter wheat was up $8 per tonne and this year’s harvest was up $4 per tonne.

Wheat prices rallied on Friday with Russia increasing bombings and drone attacks in Ukraine.  This has brought winter wheat prices above their 50 day moving average for the first time since March 21^st.  With the increased bombings there is more uncertainty in this market about future supplies and as such prices rallied.

Today in London, England high level trade representatives are meeting from China and the US to try and work out a new trade deal.  At least they want (need) to make some progress with a deal to help calm markets around the world.  This really should be a positive for our markets however prices are lower this morning.  Pressure is coming from an expected strong Crop Progress Report later today and the monthly WASDE report later this week.

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.