Monday was a mostly negative day for our markets. Harvest corn closed up 1/2, harvest soybeans closed down 1 1/4, harvest winter wheat closed down 9 1/4 and harvest spring wheat closed down 10. In the overnight trade corn, soybeans and spring wheat are negative with winter wheat just positive. Oil closed up $0.83 yesterday at $69.11 per barrel. It is stronger in trading again this morning with it now valued at $69.44 per barrel. Our dollar had both a daily low of $0.697 US and a high of $0.700 US yesterday before noon. It has stayed within that range since then with it currently valued this morning at $0.700 US.
Corn and soybeans are staying pretty flat in trading seemingly waiting for all the big news from next week to give them some price direction. The talk now is that the new US tariffs will not be sector specific and will be more directed to certain countries that they currently have a trade deficit with. This is somehow seen as positive for the outside markets and as such not negative for commodities at this time. Of course we all know that this can change at any moment with the track record of the current US administration.
It was nice to see both corn and soybeans close positive yesterday after starting the trading day on the negative side. Corn was supported by the weekly export inspection report that is now showing corn exports 32% ahead of last year’s pace in the US. They exported 57.6 million bushels last week and will only have to average 30.6 million bushels per week over the remainder of the marketing year to reach existing USDA projections. The USDA maybe holding off on increasing the export totals until it sees what affect the upcoming tariffs have on exports going forward.
Sorry but I somehow forgot to put in yesterday the summary from our markets for last week. They had a fairly quiet mixed week. Spot corn closed up $2 per tonne with both harvest 2025 and 2026 corn down $1 per tonne. Soybeans were the weakest for the week with spot down $2 per tonne, harvest 2025 down $5 per tonne and harvest 2026 down $4 per tonne. Spring wheat was up $2 per tonne for the spot market and $3 per tonne for this year’s harvest. Winter wheat ended up pretty flat with the spot market up $1 per tonne and this year’s harvest unchanged.
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
