Daily Blog

Grains Matter Chatter Episode 131
https://www.buzzsprout.com/1116593/12088297
Weekly Grain Market Update.

 

Thursday, January 26, 2023, 7:40 a.m. – Wednesday was a mostly positive day for our markets.  Spot corn closed down 2 1/4, spot soybeans closed up 14, spot winter wheat closed up 6 3/4 and spot spring wheat closed up 6 1/2.  In the overnight trade all of our markets are currently on the positive side.  Oil closed up $0.02 yesterday at $80.15 per barrel.  It is stronger in trading this morning with it now valued at $81.11 per barrel.  Our dollar had both a low of $0.745 US yesterday before noon and a high of $0.749 US.  It has traded within that range since that time with it currently valued this morning at $0.747 US. 
 
The wheat market continues to float around with some up days and some down days.  A cold weather front is coming to the US winter wheat growing regions and it is looking like wheat analysts are trying to kill the crop again and come up with a reason for higher prices.  Without much snow cover the crop is susceptible to cold weather damage and this seems to be what has brought on the positive prices yesterday.  Remember supplies remain tight in the US and any decrease in production this year should be positive for prices.
 
The soybean market bounced back yesterday after a negative day on Tuesday.  On Tuesday it was rain in Argentina that brought some optimism for their production and pushed back prices.  For Wednesday there was talk that the rain is too little and too late to make a major difference in production and this was seen as positive for prices.  Remember the market does what the market does and of course it does not always make sense.  On the technical side for soybeans prices remain firmly above the 100 day moving average even with the recent pull back.  This is showing that prices remain historically strong for both old and new crop. 

Please call Geoffrey Guy at 613-880-2707 or Delores Foster at 613-880-
7458 or Bob Orr at 613-720-1271
 
if you would like prices for crop you have stored on your farm.  Prices quoted herein are for product at our elevator.

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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  682'4
0'0
 Harvest 2023  588'2
-1'6

SOYBEANS
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  1522'4
-1'0
 Harvest 2023  1354'2
1'6

WHEAT, HRS (INCLUDES PROTEIN)
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  912'6
-5'2
 Harvest 2023  876'4
-4'2

WHEAT, SRW
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 spot  748'0
-4'4
 Harvest 2023  758'6
-3'6

WHEAT, HRW (INCLUDES PROTEIN)
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  748'0
-4'4
 Harvest 2023  758'6
-3'6

Price as of 01/27/23 01:38AM CST.
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