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Alberta Seeding of Major Crops About One-Third Complete

Despite significant precipitation in parts of the province last week, Alberta producers still had about one-third of major crops in the ground as of Tuesday. 

The latest weekly crop report on Friday pegged the planting of major crops (spring wheat, oats, barley, canola, and dry peas) at 32.5% complete, up from around 16% the previous week, and ahead of the five- and 10-year averages of 28% and 27%, respectively. 

Seeding is the most advanced in the South Region at about 50% complete as of Tuesday, although that slightly lags the region’s five-year average of just over 51%. On the other hand, seeding in the Peace Region was nearly 41% done – far ahead of the five-year region average of 17%. The Central region was at 29.5% complete, up from the average of 28%, while the North East and North West were at 22% and 19%, compared to 18% and 17% on average. 

Across the province, an estimated 45% of the spring wheat crop was seeded, with barley at 33% and oats at 15%. The canola crop was 15% seeded and peas were at 62% complete. 

Despite creating seeding delays in some areas, last week’s precipitation was welcomed and notably improved growing conditions, the report said. 

Emergence of major crops across the province was reported at 6% as of Tuesday, ahead of both the five and 10-year average of 3%. Regional emergence of major crops was reported at 15% for the South, 4% for the Central, 2% for the North East, 1% for the North West, and 5% for the Peace. 

The recent precipitation improved surface soil moisture ratings in all regions of the province except the Peace. Provincial surface soil moisture was rated 72% good to excellent as of Tuesday, above the five-year average of 58%, as well as the 10-year average of 63%. 

Surface soil moisture in the Peace was rated just 41.5% good to excellent and 14% poor. 

Region One: South (Strathmore, Lethbridge, Medicine Hat, Foremost)  

• Seeding progress for major crops is 50 per cent complete, compared to the five-year average of 51 per cent.  

• Reported sub-surface moisture is 11 per cent poor, 39 per cent fair, 39 per cent good, 11 per cent excellent, and 0 per cent excessive.  

• Reported conditions of fall-seeded crop are 2 per cent poor, 25 per cent fair, 56 per cent good, and 17 per cent excellent.  

• Conditions of tame hay are reported as 6 per cent poor, 34 per cent fair, 53 per cent good, and 7 per cent excellent.  

Region Two: Central (Rimbey, Airdrie, Coronation, Oyen)  

• Seeding progress for major crops is 30 per cent complete, compared to the five-year average of 28 per cent.  

• Reported sub-surface moisture is 17 per cent poor, 29 per cent fair, 48 per cent good, 6 per cent excellent, and 0 per cent excessive.  

• Reported conditions of fall-seeded crop are 1 per cent poor, 14 per cent fair, 75 per cent good, and 10 per cent excellent.  

• Conditions of tame hay are reported as 9 per cent poor, 24 per cent fair, 65 per cent good, and 2 per cent excellent.  

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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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