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Bean Report

Manitoba Pulse and Soybean Growers (MPSG) is providing a crop update in this week's Bean Report.
 
Laura Schmidt is an MPSG Production Specialist.
 
"Soybeans range from the unifoliate stage in later seeded fields to the fourth trifoliate and will be starting to flower with the change in day length. We're starting to see some symptoms of IDC pop up. Dry beans are ranging from the unifoliate to third trifoliate stage."
 
Schmidt notes for field peas, earlier seeded fields are at the 10th to 12th node stage and are beginning to flower. Faba beans are also starting to flower.
 
"Over the weekend we saw some hail and some rain in parts of the province," added Schmidt. "At the current soybean stage of V2 to V3, leaf defoliation from hail damage will likely have minimal influence on yields while stem breakage can be a bit more severe."
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Iran War = “Trend is Your Friend” Short-Term BUT……

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Historically wars like the 2026 Iran war are bullish hard assets like grains, metals and energy! The funds are spooked and do not want to be short, but do they price in the news over time, similar to the Ukraine/Russian war that started on Feb. 24, 2022? A closure of the Strait of Hormuz is the key to the surge in crude oil, natural gas prices and fertilizer prices.  Grains are breaking out to new contract highs as a hedge against inflation.