Manitoba Crop Report

Sep 01, 2021

Manitoba Agriculture says harvest completion across all regions of the province has reached 35%.

Cooler, wet and humid weather has delayed harvest operations, which will affect the quality of remaining unharvested cereal acres.

Soil moisture has rapidly improved in nearly all areas of Manitoba, with the top 30 cm of soil showing conditions as optimal to wet, based on field capacity. These trends are reflected at depths, where subsoil moisture has also improved slightly.

Wetter surface conditions in many fields have meant that sprayer desiccant or harvesting operations have left ruts or tracks.

Substantial rains have meant that hay and pastureland has now greened up, and livestock producers are intensively managing regrowth areas to support fall grazing.

Click here to see more...

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!