Farmers anxious to start seeding

Apr 25, 2022

The chair of the Manitoba Crop Alliance says farmers are anxious to get out in the field this spring.

"Compared to last year, obviously no two years are the same, last year might have been maybe a little more on average early because I think some guys were already starting to go at this time last year," commented Robert Misko. "We're looking at probably I think pretty well anywhere across the province, you're looking at least a month before we're getting started, so that's mid-May, which isn't excessively late but it definitely makes you have that wonder how's fall going to come along because you're definitely getting into a later seeding. That's provided the weather starts to cooperate because with temperatures in the single digits for the next two weeks, it's not going to speed up that melting process any."

Misko says the first crops that normally get planted are crops like peas and wheat which can handle a light spring frost.

He talked about soil moisture conditions.

"I think the optimism is definitely out there that maybe we won't be as bad off as we were last year with the drought. That snow and that extra moisture is definitely going to have some effect. It's got to be building up. I don't think we've completely rebuilt our reserves, but at least we've got a good start. You don't have to go to terribly far to the west and there's still some areas out there that are pretty dry. They didn't get a lot of snow and they don't really have any cover right now either."

Misko reminds farmers that it's important to seek help if they are feeling stressed out this spring.

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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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