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Some crops have been struggling with the excess moisture

Farmers have been dealing with a real mix of weather this year, from isolated heavy rains, to strong winds, hail and even a few tornado sightings. 

Anne Kirk, the Cereal Crop Specialist with Manitoba Agriculture, says its been fairly wet in many areas of the province.

The weekly crop report shows peak wind speeds at the Manitoba Agriculture Weather Station at Rivers  hit 113 km/hr on June 12. Precipitation for the past seven days ranged from 7.8 mm to 54.8 mm (Table 1)

Seeding is now virtually complete with 97 per cent of the provincial crop in, with seeding delayed due to the rains in the Interlake and Eastern side of the province. As well, with the environmental conditions some farmers have also had to do some reseeding.

She adds that it has been a little bit difficult for farmers to get in and apply herbicides at the correct time as it has been quite windy.

With water laying in fields in many parts of the province, we see some  drowned out areas and some crops that generally have been struggling and are looking a little bit yellow due to that excess moisture. 

Kirk notes that, as far as insect concerns, they've seen flea beetle  activity in some areas with some foliar insecticide applications taking place, along with some wireworm activity.

When it comes to disease, tan spot is starting to show up in some winter wheat, but other than that, it is still fairly early in the growing season for disease.

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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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