Monday, March 10, 2025, 7:15 a.m.

Friday was a mixed day for our markets.  Harvest corn closed up 3 1/4, harvest soybeans closed up 4 3/4, harvest winter wheat closed down 2 1/2 and harvest spring wheat also closed down 2 1/2.  In the overnight trade corn and soybeans are now negative with the wheat sector on the positive side.  Oil closed up $0.69 on Friday at $67.04 per barrel.  It is stronger in trading again this morning with it now valued at $67.25 per barrel.  Our dollar traded between a low of $0.694 US and a high of $0.700 US on Friday with it closing out at $0.696 US.  With some choppy trading in the overnight session it is down just a bit this morning with it currently valued at $0.695 US.

With all the turmoil last week our markets ended just slightly down.  The corn market ended up unchanged week over week.  Spot soybeans also ended unchanged with both harvest 2025 and 2026 down $1 per tonne.  Spring wheat was down $2 per tonne for both spot and this year’s harvest with winter wheat down $1 per tonne across the board.

Both the corn and soybean markets got some technical support as the trading week progressed last week.  The ended and are trading today just above their 50 and 100 day moving averages respectively.  It would be nice if this week the markets could get back to trading based more on fundamentals then the turmoil caused by all the tariff uncertainty.

Tomorrow is the monthly WASDE report release by the USDA.  The March report is usually not a major market mover but the USDA always has the opportunity to surprise the marketplace.  With the continued strong export data in the corn market and strong domestic ethanol production we could see an increase in corn usage.  It will also be interesting to see if any small production changes are made for South America.

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.