Markets

U.S. Oil WTI (West Texas Intermediate): This market measures the price of crude oil, specifically a grade known as West Texas Intermediate, which is a benchmark for oil pricing in the U.S. With Minot serving as a logistics hub for many companies working in the Bakken, this market indicator is one of the big movers for our local economy.

U.S. Wheat: This market tracks the price and trade of wheat. North Dakota remains the largest wheat-producing state in the U.S., with a production of 282 million bushels in 2023. This market is crucial for local farmers and businesses involved in agriculture‚Äč.

U.S. Corn: The U.S. Corn market monitors the price and supply of corn. Nationwide, the 2023/24 corn production forecast is up by 170 million bushels to 15.2 billion, owing to a 1.9-bushel-per-acre increase in corn yields. For Minot, the state’s share in this growing market can significantly impact local agricultural practices and economic health‚Äč.

U.S. Soybeans: This market focuses on soybean trading and pricing. North Dakota produced 198.4 million bushels of soybeans, contributing significantly to the U.S. soybean market.

U.S. Feeder Cattle: This market tracks the price and supply of young cattle raised primarily for beef production. For Minot, an area involved in livestock farming, this market is a key indicator of the health of the local livestock industry, influencing decisions on herd management and meat production.

CAD/USD Exchange Rate: This market measures the exchange rate between the Canadian Dollar (CAD) and the U.S. Dollar (USD), playing a pivotal role in Canadian tourism. For Minot, fluctuations in this exchange rate can significantly influence the spending power of Canadian visitors. A stronger USD against the CAD leads to reduced spending or shorter stays from Canadian tourists, affecting local hospitality, retail, and entertainment sectors. Conversely, a stronger CAD increases tourist inflow and spending. This rate is therefore a critical metric for businesses in Minot that rely on or cater to Canadian tourists.