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Bean Report

Manitoba Pulse and Soybean Growers (MPSG) is giving a crop update in this week's Bean Report.

Laura Schmidt is an MPSG Production Specialist.

"Soybeans range from R6.5, which is beginning maturity, to R7, where there's at least one brown pod on the main stem. Some fields are rapidly approaching R8 or full maturity. The rains have helped fill pods and increase seed size in fields that were not mature when the rains fell. Once soybeans reach R7, they are considered safe from a fall frost."

Schmidt notes dry beans range from beginning to full maturity.

Field pea harvest is complete in most areas.

Faba bean harvest has also started.

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Increased Geo Political Tensions = SELL AMERICA TRADE + Argentina Dry

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Higher geo-politics from Trump wanting to annex Greenlland to conflict with Iran has caused investors to sell everything America. With Matto Grosso Brazil 7% harvested weather has turned wet as harvest progresses but Argentina has turned dry! Both soybean and wheat futures have traded back above the pre-USDA January crop report close a positive technical chart signal. A monster weekly U.S. export report is price supportive but a kick the can down the road on E15 is very disappointing.