Thursday, April 10, 2025, 7:35 a.m.

Wednesday was a positive day for our markets.  Harvest corn closed up 5, harvest soybeans closed up 19 1/4, harvest winter wheat closed up 1 3/4 and harvest spring wheat closed up 7 1/4.  In the overnight trade all of our markets remain on the positive side.  Oil closed up $1.77 yesterday at $62.35 per barrel.  It is weaker in trading this morning with it now valued at $60.92 per barrel.  Our dollar started out yesterday morning at $0.704 US and has trended higher since then.  This morning it is currently valued at $0.711 US.

Did President Trump blink yesterday?  Whatever made him do it the markets overall celebrated with a rally after he announced at 1:19 pm that the reciprocal tariffs would be postponed for 90 days.  Stock markets rallied around the world and this price rally came over into our commodity markets also.

Soybeans showed the largest gain even with tariffs being increased against China again yesterday.  They are now raised up 125% for imports from China.  Chinese tariffs on US imports are currently sitting at 84%.  It seems that the marketplace is not worried about cancellations on the remaining contracts for this marketing year from China.  It has been reported that the majority of these purchases have been made by a state owned company.  This company usually purchases the US soybeans then resells them into their domestic market as demand dictates.  It is thought that this company will most likely absorb the tariffs and not pass them onto their domestic market.  Bottom line is that nearby soybeans were able to rally and close above the $10 per bushel mark once again on the CBOT.

Corn prices rallied yesterday and closed above their 100 day moving average for the first time in just over a month.  With the positive prices this morning they are also getting very close to the 50 day moving average.  Demand is remaining strong for US old crop corn on the world market and the pause in the new tariffs will most likely help to spur on some increased short term demand.

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.