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Saskatchewan Harvest Nears Two-Thirds Done

Almost two-thirds of the Saskatchewan crop is now in the bin, as hot, dry conditions allowed brisk progress in the fields this past week. 

Thursday’s weekly crop report showed the overall provincial harvest at 61% complete as of Monday, up from 42% a week earlier and well ahead of the five- and 10-year averages of 50% and 46%. However, the harvest still trails last year by 7 points. 

The southwest region is still the furthest advanced in harvest progress at 85% complete as of Monday. The southeast and west-central regions are past the halfway point at 65% and 54% complete, respectively. The northwest region was 49% complete, the east-central at 46% and the northeast at 34%. 

Harvest is nearly complete across the province for winter cereals, triticale, lentils and field peas. Durum was 83% harvested as of Monday, with barley at 70%, spring wheat at 60%, oats at 53%, and canary seed at 32%. Chickpeas were 76% harvested as of Monday. For oilseed crops, mustard is the furthest advanced at 84% harvested, followed by canola at 28% and flax at 22%. 

Crop yield and quality continues to vary throughout the province due to the scattered rainfall received throughout the growing season, the report said. “Producers have indicated good crop quality in some areas, but there are an increasing number of producers who are concerned with light bushel weights and small seed size for various crops.” 

Topsoil moisture conditions continue to decline due to the hot and dry weather conditions. Cropland topsoil moisture was rated 1% surplus, 33% adequate, 43% short, and 23% very short as of Monday, compared to 40% adequate, 38% short and 22% very short the previous week. 

There is a significant need for large amounts of precipitation in many areas to help with replenishing topsoil and subsoil moisture levels, along with improving pasture conditions, the report said. 

Crop damage over the past week was mainly due to wind and migratory birds. Grasshoppers are being reported at higher numbers in some areas with overall minor to moderate crop damage estimated. 

Southeast: 

Producers made significant harvest progress within the region over the past week. Harvest currently sits at 65 per cent complete, up from the 47 per cent last week. This is ahead of both the five and 10-year average of 55 per cent. Producers are also busy with baling straw, hauling bales, and swathing and desiccating some of the later seeded crops. Some producers have completed harvest and are starting fall field work which includes harrowing and post-harvest weed spraying. 

Limited precipitation fell throughout much of the region over the past week. The highest amount was reported in the Wilcox area at 6 mm followed by the Southey area at five mm. All other areas received less than three mm over the past week with the majority of areas receiving no precipitation. Topsoil moisture continued to decline in the region due to the lack of moisture and increased temperatures. Currently, cropland topsoil moisture is rated as two per cent surplus, 53 per cent adequate, 37 per cent short and eight per cent very short  

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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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