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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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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.