Wednesday, April 2, 2025, 7:35 a.m.

Tuesday was a nice positive day for our markets.  Harvest corn closed up 7 1/2, harvest soybeans closed up 20, harvest winter wheat closed up 3 1/4 and harvest spring wheat closed up 4 1/4.  In the overnight trade all of our markets have fallen back on the negative side.  Oil closed down $0.28 yesterday at $71.20 per barrel.  It is weaker in trading again this morning with it now valued at $70.99 per barrel.  Our dollar had a low yesterday morning before noon of $0.694 US and a high of $0.700 US late in the afternoon.  It has eased back a bit in the overnight trading with it currently valued this morning at $0.698 US.

Our markets surged higher and were led by soybeans yesterday.  The lower projected acres on Monday for soybeans were definitely a catalyst for stronger prices.  This market was also strongly supported by an increase in soybean oil which was spurred by the biodiesel industry.  Meetings in the US between the oil industry, renewable energy groups and the Environmental Protection Agency were focused on increasing the biodiesel mandate going forward.  After being regulated to the side by the Trump administration it seems that the biodiesel industry is front and centre again and is going to get a nice shot in the arm with a larger mandate for usage.

It was a strong sign for corn prices yesterday as they rallied even with the negative news of increased acreage confirmed on Monday.  This news is usually negative for prices as it should result in increased supply and most likely increased carryout stocks for next year.

Today is tariff day for the US or as President Trump is calling it Liberation Day.  The announcement of what is going to happen is not supposed to come until 4 pm.  To speculate on how widespread and at what rates the tariffs will be at is only a guess at this time.  Hopefully whatever they do does not hurt the Ag commodity markets too much!  The markets in general are negative today with the thoughts of what might occur this afternoon.

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.