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Manitoba Crop Report

Manitoba Agriculture says overall harvest is 13% complete.
 
Oilseed Specialist Dane Froese says that number is behind normal.
 
"We should expect this though, given that crops did go in a little later and we had some moisture issues and quite a number of crops were reseeded, so that does push maturity a little bit later. However, we're not in a dangerous position at this time given that weather has been cooperating and we've had a warm dry finish to much of the growing season for our early crops, so that is allowing them to come off reasonably quickly and generally with good quality and lower moisture."
 
Late-season dryness together with high heat has prompted premature ripening in some soybean and corn fields where soil moisture was low.
 
Reported wheat yields to date have been average to slightly below average, given stresses faced by all crops this spring. Oats and barley yields are average to above average.
 
Greenfeed cereal silage and straw baling is continuing.
 
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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.