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Early Summer Storms Produce Hail Across Prairies

Early summer storms across the Prairies produced hail that resulted in heavy damage in some areas, according to the Canadian Crop Hail Association (CCHA).
 
The storms occurred May 26, June 4, June 9, June 13-17.
 
CCHA member companies are investigating about 200 claims of crop damage during that period.
 
Manitoba Agricultural Services Corporation (MASC) reported damage to fall rye, wheat, canola, soybeans, sunflowers in the communities of Altona, Elkhorn and Miniota. Fall rye in Altona had some severe damage while other crops had minor damage.
 
Cooperative Hail Insurance Company reported light to medium damage to beans, wheat and canola across Manitoba.
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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.