Wednesday, June 11, 2025, 7:10 a.m.

Our Annual Customer Appreciation Day is only 2 weeks away.  Wednesday, June 25, 2025.  Mark your calendar.  

Tuesday was a mixed day for our markets.  Harvest corn closed up 2, harvest soybeans closed up 1/2, harvest winter wheat closed down 7 1/2 and harvest spring wheat closed down 8 3/4.  In the overnight trade all of our markets are on the positive side.  Oil closed down $0.31 yesterday at $64.98 per barrel.  It is stronger in trading this morning with it now valued at $65.88 per barrel.  Our dollar has traded between a low of $0.730 US and a high of $0.732 US over the last 24 hours.  This morning it is right in the middle of the range with it currently valued at $0.731 US.

After two days of talks Chinese and US representatives have come to some sort of an agreement.  The agreement made is reported to ‘put meat on the bones of the earlier agreement’.  Supposedly it will give the ongoing negotiations a more workable framework to progress to a final resolution.  The revised agreement is reportedly being taken back to both of the country’s leaders for their ratification.  We should note that the markets are somewhat underwhelmed by the current agreement and most definitely were looking for something more concrete to come out of the talks this week.

Wheat prices grinded lower yesterday with the increased crop ratings from Monday weighing on this market.  Prospects of a better crop this year in the US have even led some analysts to predict that the USDA will increase yields with this week’s WASDE report.  Rains in China and the Black Sea region have also helped to drive wheat prices lower.   I should also note that I have seen a report that projections for the crop this year in Russia are being increased then I saw an article stating that dryness in some main growing regions has definitely hurt their crop.  It seems to remain true that this market will trade with all the news out of Russia however we just never really know what is true and what is not.

Corn prices are struggling with the supply side dominating this market.  The increased crop rating from Monday with the favourable weather forecast for crop growth going forward will limit any price increases.  The progressing harvest in South America is also weighing on this market especially with the recent yield increases being reported for Brazil.  Finally the WASDE report tomorrow should be supportive corn with increased export totals for this year out of the US.  Pre-report estimates range from an extra 30 million bushels up to 100 million bushels that the USDA will decrease carryout stocks.  Time will have to tell this story.

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.