Tuesday, April 22, 2025, 7:15 a.m.

Monday was a negative day for our markets.  Harvest corn closed down 1 1/2, harvest soybeans closed down 6 3/4, harvest winter wheat closed down 10 and harvest spring wheat closed down 4 3/4.  In the overnight trade corn is mixed, soybeans and spring wheat are positive with winter wheat negative.  Oil closed up $0.58 yesterday at $62.41 per barrel.  It is stronger in trading again this morning with it now valued at $63.28 per barrel.  Our dollar has traded between a low of $0.722 US and a high of $0.725 US over the last 24 hours.  This morning it is currently valued at $0.723 US.

All of our markets started out positive yesterday but were pulled back to the negative side by outside activities.  President Trump expressed his displeasure with the head of the US Federal Reserve and their reluctance to decrease interest rates.  This resulted in much talk about whether they could work together and also a possible slowdown in the US economy.  The end result was that it was a risk off day and the markets, including our commodities, pulled back.

Yesterday the USDA released their weekly Crop Progress Report.  Corn plantings increased by 8% week over week to sit at 12% complete.  This is ahead of both last year’s 11% planted and the 5 year average of 10% planted for this time of the year.

For soybeans plantings increased from 2% last week up to 8% this week.  This compares to 7% at this time last year and the 5 year average of only 5% planted.

Spring wheat seeding increased from 7% last week up to 17% this week.  Last year at this time they had 14% of the crop seeded and the 5 year average is only 12%.

The good to excellent rating for their winter wheat crop decreased 2% week over week to sit at 45%.  Last year at this time the rating was at 50%.

This report should be considered bearish for prices for corn, soybeans and spring wheat due to the fast planting pace that is now above both last year and the 5 year average.  For winter wheat the report is bullish prices as the good to excellent crop ratings continue to decrease each 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.