We will be open over the weekend weather permitting.  If in doubt please call the office, 613-489-0956, or Ronald at 613-880-7456.  

Thursday was another negative day for our markets.  Harvest corn closed down 3 1/4, spot soybeans closed down 13 3/4, spot winter wheat closed down 9 3/4 and spot spring wheat closed down 8 1/2.  In the overnight trade all of our markets remain on the negative side.  Oil closed down $0.44 yesterday at $59.00 per barrel.  It is weaker in trading again this morning with it now valued at $57.85 per barrel.  Our dollar started out yesterday morning at $0.712 US and then went down to $0.709 US around noon.  It has traded within that range since then with it currently valued this morning at $0.709 US.

Soybeans once again led our markets lower yesterday.  This occurred even with more daily sales to China being announced.  China has now purchased about 1.8 million tonnes towards the 12 million tonnes target that President Trump has said is in the ‘Trade Pact’ made between the two countries.  Speculative funds have built a large long position (looking for prices to go up) over the last month in the soybean market.  Many analysts think that with the pullback in prices over the last 3 days they have been locking in some profits by liquidating some of their long position.

The corn and wheat markets just followed the soybean market lower yesterday.  We should point out that all the markets started the day on the positive side before turning negative.  Unfortunately this morning prices are starting out negative.  Hopefully they can find some reason to rally today so that they can end the week on a positive.

Locally the short term demand for export soybeans has helped to push up basis levels.  If you are storing any soybeans on your farm please give us a call to go over the current export opportunity.  It is going to end very soon and then the waiting game will be on to see if another positive opportunity arrives over the winter months.

Friday’s thought:  No amount of regret can change the past and too much worry about tomorrow only takes away today’s peace!

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.