Customer Appreciation Day - Wednesday June 27th, 2018 Special One Day Pricing Opportunities Tuesday, June 19, 2018, 7:25 a.m. – Yesterday was a mixed day for our markets. Harvest corn closed down 5 1/2, harvest soybeans were up 1, harvest winter wheat closed down 9 1/2 and harvest spring wheat closed down 9. In the overnight trading all of our markets are once again on the negative side. Oil closed up $0.79 yesterday at $65.85 per barrel. It is weaker this morning with it now trading at $64.80 per barrel. Our dollar started yesterday morning at $0.760 US and has been mostly down since that time as the US dollar has strengthened versus most other currencies. This morning our dollar is currently valued at $0.753 US. This is the same level as June 20th of last year which is the low in trading over the last 365 days. The high in trading occurred on September 11, 2017 when our dollar was valued at $0.826 US. Yesterday the weekly US Crop Progress Report was released. Their corn crop is now rated at 78% good to excellent, up 1% for the week. Last year their crop was rated at 67% good to excellent. Their soybean crop is now reported at 97% planted, this is up 4% for the week and remains ahead of both last year’s 95% and the 5 year average of 91% planted. This crop is rated at 73% good to excellent which is down 1% from last week. It still is ahead of last year’s rating of 67% good to excellent. The spring wheat crop is rated at 78% good to excellent which is up a strong 8% from last week. Last year the spring wheat crop was only rated 41% good to excellent. Their winter wheat crop is now rated 39% good to excellent. This is up 1% for the week and remains behind last year’s rating of 49% good to excellent. This crop is now 27% harvested, which is up 13% for the week. Last year they were at 26% harvested and the 5 year average is only 19% harvested. No real surprises in the Crop Progress Report with the good growing weather that they continue to have over much of the US crop land. The winter wheat harvest is progressing with better than expected yields and this will continue to put negative pressure on prices. Soybean prices are down hard in the overnight trading after having a small gain yesterday. They are once again caught up with the negative aspects of the Trade War between China and the US. With the crop looking good in the US and the largest buyer placing a 25% tariff on imports from the US it seems the only way for prices to go is down. Please call Geoffrey Guy at 613-880-2707or Bob Orr at 613-720-1271 if you would like any direct ship pricing. Prices quoted herein are for product at our elevator.
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.