Daily Blog


 Grains Matter Chatter - Episode 192
 

Our office and the markets are closed tomorrow for Good Friday.  They both will reopen on Monday.  Have a wonderful Easter Weekend!
 
Thursday, March 28, 7:55 a.m. – Wednesday was a mixed day for our markets.  Spot corn closed down 5 3/4, spot soybeans closed down 6 1/2, spot winter wheat closed up 4 and spot spring wheat closed up 3 3/4.  In the overnight trade corn and wheat sector are positive with soybeans still on the negative thought.  Oil closed down $0.27 yesterday at $81.35 per barrel.  It is stronger in trading this morning with it now valued at $82.30 per barrel.  Our dollar has traded between a low of $0.734 US and a high of $0.737 US over the last 24 hours.  This morning it is currently valued at $0.736 US. 
 
Our markets have been trading sideways to mostly down this week.  The soybean market has traded higher one day then lower the next as the vegetable oil market has bounced around.  Corn demand for ethanol remains strong but not enough to drive prices unless the USDA drastically increases corn demand for ethanol demand with their monthly reports.  The wheat market continues to be dominated by low prices from Russia and Ukraine.  The remainder of wheat exporting nations are having to lower prices to be competitive on the world market. 
 
Today the USDA releases their Planting Intentions Report and also an updated Stocks Report.  How these reports come out can easily give our markets a strong direction going forward.  The odds of the reports helping both corn and soybeans are minimal with it most likely to help one of the markets and to hurt the other.  The reports are released today at 12 pm so stay tuned. 
 
Friday’s thought one day early: Easter is the only time when it is perfectly safe to put all your eggs in one basket!

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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. Prices quoted herein are for product at our elevator.

Geoffrey Guy | 613-880-2707
Delores Foster | 613-880-7458
Bob Orr | 613-720-1271
Office | 613-489-0956

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  If you would like to receive our daily email (which is sent out at 8:00 a.m.) with our prices and the market commentary please call the office 613-489-0956
 



 
Please send info to;
2518 Lockhead Rd,
North Gower ON K0A 2T0

or 
info@northgowergrains.com  
 

Local Cash Bids
 
CORN
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  427'6
1'0
 Harvest 2024  462'0
-0'2

SOYBEANS
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  1186'4
-6'0
 Harvest 2024  1173'2
-10'2

WHEAT, HRS (INCLUDES PROTEIN)
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  649'0
-2'0
 Harvest 2024  664'0
-0'4

WHEAT, SRW
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  546'6
-0'6
 Harvest 2024  580'2
-0'2

WHEAT, HRW (INCLUDES PROTEIN)
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  546'6
-0'6
 Harvest 2024  580'2
-0'2

Price as of 03/28/24 09:53AM CDT.
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