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Southeast Farmers Face Difficult Decisions With Insurance Deadlines Looming

The president of Keystone Agricultural Producers (KAP) is keeping an eye on the water situation in southeast Manitoba.
 
Bill Campbell talked about some of the challenges being faced by livestock producers.
 
"There is excess moisture on the fields. There may be required supplement feeding and with the challenges that the province has had with regards to forage production last year, it's not the time of year when you wish to be feeding cattle. Accessing feed, taking away from 2020's reserves, it really has a lot of implications with that type of moisture that has fallen."
 
Campbell says farmers in the southeast are facing tough decisions with the crop insurance deadlines looming.
 
David Koroscil, Manager of Claim Services with Manitoba Agricultural Services Corporation (MASC), was asked about insurance claims so far.
 
"Not a lot of claims so far, a bit of activity just to have the discussion," he said. "When we have a significant rainfall like we did last weekend, it takes a little bit of time to determine and assess what the damage is and as you can appreciate what we saw last week, some roads were impassable so there's certain fields people couldn't even get to."
 
Koroscil notes it could take several weeks before the full impact of the damage is known.
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U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

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.
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