Our Annual Customer Appreciation Day is less then 1 week away. Wednesday, June 25, 2025. Mark your calendar.
Wednesday was a positive day for our markets. Harvest corn closed up 5 1/4, harvest soybeans closed up 1/2, harvest winter wheat closed up 25 1/4 and harvest spring wheat closed up 17 1/4. The markets are closed today for the Juneteenth holiday in the US. Oil closed up $0.23 yesterday at $73.50 per barrel. It is stronger in trading again this morning with it now valued at $74.36 per barrel. Our dollar had a high yesterday morning of $0.733 US and then trended lower going down to $0.728 US in the overnight trading. It has bounced up some this morning with it currently valued at $0.730 US.
The wheat market led the way again yesterday with support coming from the same areas as the day before. The decreased crop rating this week for winter wheat and the slow harvest are areas bringing support. This with the severe rains that some of the mature crop is experiencing that could potentially damage the crop or at the least delay harvest further is helping to spur prices higher. There is also a report that another large growing region in Russia has declared it a severe drought area. This should in theory bring more production level concerns for the current crop in Russia.
The US Federal Reserve held interest rates steady yesterday. They are concerned over inflation levels in the US and what the economic fallout will be over all of the current trade issues brought forward by the current administration. We should also note that two decreases in their benchmark rate are still expected for later this year.
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
