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Manitoba Crop Pest Update

Manitoba Agriculture - Crop Pest Update for May 20, 2020
 
Insects: Some cutworm feeding noted on forage crops in the Central region. Flea beetles have been noticed feeding on whatever cruciferous plants are around. Diamondback moth trap counts have generally been low.
 
Diseases: Currently there are no diseases, of pathogenic origin, being reported from the field. Crops planted weeks ago have just begun to emerge. Nor have there been reports of abiotic disease symptoms. Though it’s late on the calendar, biological indicators of planting readiness are lagging 10 days to 2 weeks behind 2019.
 
Weeds: Perennial weeds continue to enjoy the growing conditions, and the heat is bringing on the annuals. Wind is drying out the fields but preventing pre-seed herbicide applications.
 
Soils: Time to check for stand problems resulting from excessive seed placed fertilizer.
 
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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!