The elevator is open 7 am to 7 pm going forward (weather permitting) including weekends.

Monday was a mostly negative day for our markets.  Harvest corn closed down 2 1/4, harvest soybeans closed up 1, spot winter wheat closed down 1 3/4 and spot spring wheat closed down 1/4.  In the overnight trade all of our markets are on the negative side.  Oil closed up $0.59 yesterday at $59.49 per barrel.  It is weaker in trading this morning with it now valued at $58.12 per barrel.  Our dollar started our yesterday morning at $0.714 US and has trended lower since then.  This morning it is currently valued at $0.711 US.

President Trump’s ongoing tweets helped to support our markets yesterday.  After the negative comments on Friday he has pulled them back and said that he will be able to work something out with President Xi from China.  Vice President Vance also got in on this with a positive announcement about trade with China and our markets mellowed out after the big negative day on Friday.

China imported 12.87 million tonnes of soybeans in September.  This was up from 11.37 million tonnes last year with the majority of these soybeans coming from Brazil.  This was there second largest monthly import total on record.  These numbers just help to confirm how China continues to look to South America for their soybean supplies and also that they are building inventory levels that will take the place of what is normally later shipments from the US.  No matter what President Trump tries to tell President Xi, China is showing that they can get along without soybean supplies from the US.

The US Corn Belt continues to receive mostly favourable harvest weather.  With the lack of updated USDA data on the pace of the harvest the marketplace is watching the weather and private reports on how the harvest is going.  The probable fast pace of the harvest is helping to keep a lid on prices on the CBOT.  We should also point out that there continues to be some rumours that actual yield will be lower than previous USDA forecasts but once again this will not be confirmed until the government shutdown in the US is over.

Locally the soybean harvest is getting near completion.  Yields of course have been all over the board with more farmers disappointed then pleasantly surprised with their crop.  The corn harvest has started and we are seeing moisture levels in the corn from just below 20% up to about 25%.

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.