Monday, March 31, 2025, 7:05 a.m.

Friday was a mostly negative day for our markets.  Harvest corn closed down 1 1/4, harvest soybeans closed up 8 1/2, harvest winter wheat closed down 4 1/2 and harvest spring wheat closed down 6 1/4.  In the overnight trade corn is mixed, soybeans and winter wheat are positive with spring wheat still negative.  Oil closed down $0.56 on Friday at $69.36 per barrel.  It is stronger in trading this morning with it now valued at $69.55 per barrel.  Our dollar traded between a low of $0.696 US and a high of $0.698 US on Friday with it closing out at the top end of the range.  After going up to $0.699 US in the overnight trade it has eased back this morning with it currently valued at $0.696 US.

Last week was a mostly negative week for our markets.  Spot corn closed down $4 per tonne with both this year’s and next year’s harvest down $3 per tonne.  Spot soybeans were up $4 per tonne with harvest 2025 up $8 per tonne and harvest 2026 up $4 per tonne.  Spring wheat was down $9 per tonne across the board with winter wheat down $11 per tonne across the board.

Today the USDA will be releasing both their Quarterly Stocks Report and the Planting Intentions Report.  They come out at 12 pm and both have the potential to move our markets.

Nearby corn futures hit a new low on Friday with thoughts that the increase in corn acres being released today will be substantial.  Last year the US Farmer planted 90.6 million acres of corn.  The average trade estimate for today’s report is 94.4 million acres with some estimates closer to 97 million acres.  With the increased acres and a trend line yield forecast in the 181 bushels per acre estimate this would increase supply significantly and as such corn prices are on a downward trend.

For soybeans the acreage estimate is expected to decrease soybean plantings from 87.1 million acres last year down to 83.8 million acres this year.  The decrease in production helped soybean prices to rally last week.  We should also note that biofuel optimism in the US also helped to drive soybean oil prices last 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.