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Sunflower Harvest Resumes

Manitoba's sunflower harvest resumed over the past week or so.
 
Ben Friesen, with Scoular Canada, estimates that about 25 per cent of the sunflower harvest is complete.
 
He talked about some of the difficulties facing farmers.
 
"The guys have some big challenges, not only to get it off right now, the problem is we're going to be making big tracks and we're going to get into a late season, they won't be able to do anything to eliminate them this fall," commented Friesen. "They're going to be struggling [with] really tough times next spring with getting the ground back into proper condition."
 
Friesen says the colder temperatures forecast for this week will help with field accessibility.
 
He adds for the most part, quality has been good so far and there is little disease or head rot. Yields are also looking good, although some of the confection seeds are smaller due to the dry summer.
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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.
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!