Daily Blog


Monday, April 15, 6:55 a.m. – Friday was a nice positive day for our markets.  New crop corn closed up 6, new crop soybeans closed up 12, new crop winter wheat closed up 4 1/2 and new crop spring wheat closed up 3 1/4.  In the overnight trade all of our markets are back on the negative side.  Oil closed up $0.64 on Friday at $85.66 per barrel.  It is weaker in trading this morning with it now valued at $84.99 per barrel.  Our dollar traded between a low of $0.725 US and a high of $0.730 US on Friday with it closing out at $0.727 US.  In the overnight trading it has gone up just a bit with it currently valued this morning at $0.728 US. 
 
Not a big change in prices last week.  Spot prices increased mostly with local basis going up.  Harvest prices were mostly on the negative.  The spot market was up about $3 per tonne across the board.  Harvest corn was unchanged with soybeans and the wheat sector down about $5 per tonne for harvest.  The USDA monthly report last Thursday did not really help market prices at all.
 
Our markets started on the negative on Friday but changed during the day due to outside influences.  When the announcement was made of an imminent strike by Iran on Israel over the weekend the US dollar strengthened and our commodities went positive.  Gold climbed to a new all-time high and our commodities were pulled onto the band wagon for a ride higher. 
 
During the weekend it has been reported that Israel’s air defence system intercepted 99% of the barrage of missiles and drones sent their way and this has brought some stability back into the markets.  As such once again prices are lower for our commodities.  It is looking like Friday’s actions were a one day blip for our markets.  The markets will focus once again on spring planting weather for the US and production levels out of South America. 

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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  431'4s
-4'0
 Harvest 2024  469'2s
-2'6

SOYBEANS
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  1158'2s
-15'6
 Harvest 2024  1167'2s
-9'0

WHEAT, HRS (INCLUDES PROTEIN)
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  637'0
-5'6
 Harvest 2024  654'2
-4'6

WHEAT, SRW
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  551'6s
-4'2
 Harvest 2024  583'6s
-2'6

WHEAT, HRW (INCLUDES PROTEIN)
  North Gower Grains
Futures Price Basis Cash Price Converted Price Futures Change
 Spot  551'6s
-4'2
 Harvest 2024  583'6s
-2'6

Price as of 04/15/24 01:35PM CDT.
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