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Bean Report

Manitoba Pulse and Soybean Growers (MPSG) is giving an update on the soybean crop in this week's bean report.

Cassandra Tkachuk is a production specialist for eastern Manitoba.

"Crops are mainly at the R1 or beginning bloom stage, with anywhere from four to eight trifoliate leaves," she said. "The most advanced soybean crops are reaching the R2 or full bloom stage this week. Manitoba has been facing some very hot and very dry conditions over the past several weeks. Soybeans do not love dry conditions but at this point in the growing season, they remain resilient. We can see that some soybean crops are stressed by the way they're flipping their leaves during the day, but I can say that most soybean crops across the province are looking good, especially those that are growing in soils with greater water holding capacity."

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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.