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Manitoba Crop Report

Crops are generally in average to good condition, according to the latest Manitoba Agriculture crop report.
 
The exception however, is in low-lying areas that have been subjected to frequent rainfall over the past three weeks.
 
Winter cereals are reaching the soft dough stage, and turning colour with harvest expected to start in about two weeks.
 
The report indicates corn and sunflowers are growing well with heat and moisture, tassling and flowering are beginning.
 
Canola and peas are suffering in places from excess moisture, but doing well in others. Cereals are rated as mostly good to excellent.
 
Meantime, grasshoppers have become a concern in cereal and soybean fields.
 
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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.