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

Tuesday was another positive day for our markets.  Harvest corn closed up 3 1/4, spot soybeans closed up 11, spot winter wheat closed up 3 and spot spring wheat closed up 1 1/2.  In the overnight trade corn, soybeans and winter wheat are negative with spring wheat mixed.  Oil closed down $1.16 yesterday at $60.15 per barrel.  It is stronger in trading this morning with it now valued at $60.32 per barrel.  Our dollar started out yesterday morning at $0.714 US and then trended higher.  It went up to $0.718 US in the overnight session before pulling back just a bit.  This morning it is currently valued at $0.717 US.

It was nice to see our markets rally yesterday however as the trading day progressed they started to pull back.  They did end up positive but closed at roughly one half of their highs for the day.  With our markets on the negative this morning it is showing that traders will need the actual trade deal made between the US and China to keep the optimism flowing.

Late yesterday there was a report put out by Reuters that the state owned importer in China has purchased 179,000 tonnes of US soybeans for shipments in December and January.  US soybeans are priced economically for Chinese importers other than the tariffs that they currently have in place.  The marketplace seems to be in agreement that this purchase did happen and was probably the reason that prices rallied strong yesterday before pulling back.

Tonight is the night that the two Presidents are getting together.  Although I will be watching the Blue Jays game I will be monitoring the news to see if any announcements come out of their meeting in South Korea.  We could have a very volatile overnight session and tomorrow also depending on what comes out of the meeting.  Today maybe a good time to put in some target orders that could take advantage of any short term price jump.  Remember the markets always seem to over react to what is occurring both to the upside and to the downside before prices level off.  Give us a call if you would like to talk about your farms short term marketing requirements.

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.