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Manitoba Crop Report

Manitoba Agriculture says overall harvest progress is sitting at about 26 per cent complete.
 
The weekly crop report states that harvesting tough cereal grains is becoming more common. Aeration bins are being used in combination with grain drying in some areas.
 
Spring wheat yields are generally below average; grain is generally reaching the top two grades. Oat and barley yields are better, and quality is good.
 
Dry bean and canola desiccation or swathing is occurring.
 
Grasshoppers are noted in many crops, while flea beetles are present in large numbers in the Portage la Prairie and south Interlake areas. Insecticide spraying has been very limited on late insects.
 
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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.