Wednesday was a mostly negative day for our markets. Spot corn closed up 4 1/4, spot soybeans closed down 3 3/4, spot winter wheat closed up 3/4 and spot spring wheat closed down 2. In the overnight trade all commodities turn negative. Oil closed up, today’s range has been $78.98 and $80.59 per barrel. It is currently trading this morning at $78.93 per barrel. Our dollar is currently trading at 0.695.
Yesterday in the Eastern Ontario grain markets, the focus remained on price stabilization amid global market fluctuations. Corn prices were supported by robust local demand, especially from ethanol producers. However, they remain lower compared to last year, influenced by high global stocks and the strong U.S. dollar. Soybeans saw mild gains driven by tightening U.S. ending stocks and steady domestic interest, although overall levels are still down year-over-year. Wheat markets remained steady, reflecting limited export opportunities but consistent local miller demand.
The Canadian dollar’s relative strength, hovering around 72 cents USD, is providing some price support for Eastern Ontario grain producers, helping offset lower global benchmarks. Harvest conditions have largely concluded, with good yields reported across much of the region
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
