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Manitoba Crop Report

Manitoba Agriculture says crops are advancing quickly and generally in average to good condition, except in low-lying areas subject to frequent rainfall over the past three weeks.
 
Winter cereals are reaching the hard dough stage and turning colour. Harvest is expected to begin in less than two weeks.
 
Grasshoppers are a concern in all areas and crops.
 
Corn and sunflowers are growing well with heat and moisture, as tassling and flowering are beginning. Canola and peas are suffering in some places from excess moisture. Cereals are rated as mostly good to excellent.
 
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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.