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Farmers Facing Higher Fertilizer Prices

With higher grain prices, farmers are facing higher fertilizer prices.
 
John Heard is as soil fertility specialist with Manitoba Agriculture.
 
"I've seen the grain prices increasing and when grain prices increase, farmer demand increases," he said. "As farmer demand increases, that tends to shorten the supply and increase prices. We've seen that with nitrogen because nitrogen is directly related to corn yields and other things in the States. The Americans also have put some duties on imported phosphorus from Morocco and Russia. That is tightening supply of phosphorus."
 
Heard notes a good portion of fertilizer was applied in the fall when prices were lower. He adds many farmers purchased in the fall and are storing over the winter.
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U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!