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Farmers Wrapping Up Winter Wheat Seeding

Manitoba's winter wheat seeding is nearing completion, with most of the province's canola crop already off the field.
 
Doug Martin is with the Manitoba Crop Alliance.
 
"There's a little bit more interest this year," he said. "Not like it used to be, but there's the odd guy sticking some in here and there. Overall, I think the acres will be up somewhat but not a big amount. I think with fall rye, I think the acres are going to be really scaled back. COVID has really hit that market hard. Even for old crop from last year there's very little movement."
 
Martin says 2020 yields were a bit disappointing for both crops.
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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.