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All the rain in half the time

Lentils take 80 - 110 days to grow, and we talked to Marengo area farmer Richard Schmalzbauer exactly 60 days ago. It was his first day of seeding. 

"Right now I think the lentils might be under a little bit of pressure just with how wet it is. If it stays like this, the disease will start showing up."

He said that the Marengo area has had 4.5 inches of rain, but hasn't seen much flood damage yet. "The disease starts showing up when they close their canopy in, and it never dries up. But who knows it could get sunny again, and it sure beats how it started out."

It's too early to say how harvest will look. Schmalzbauer says the rain may have came too late for some guys. He also wanted to note that crops like canola are benefitting quite a bit right now from this wetter weather. 

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USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension


USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.