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Wet agriculture could protect peatlands and climate, but remains largely unexplored

Across the globe, peatlands are under threat and their destruction is contributing to climate change. Damaged peatlands are responsible for roughly five per cent of global greenhouse gas emissions.

Thawing permafrost peatlands, such as those in Northern Canada, are an important “tipping element” that could lead to a runaway greenhouse effect. Further south, in Canada, Europe and the tropics, peatlands are being drained for urban, suburban and infrastructure expansion, converted to dryland agriculture and mined for fuel and the horticulture industry.

Peatlands are water-logged areas that slowly decompose plants, locking carbon into the soils. Protecting intact peatlands — and rewetting those that have been drained — must occur if we are to limit global warming to well below 2 C.

As part of our research, we conducted the first international survey on “wet farming,” or paludiculture, to understand how peatlands can be protected while considering people like farmers who use them. We also organized a workshop in Montréal, for farmers and the public, on the role of peatlands in climate change and to discuss wet farming.

Paludiculture: A necessity-driven innovation

Our survey shows that paludiculture is a necessity-driven innovation. In places where peatlands cannot be fully protected for nature conservation, such as in densely populated areas in Europe, Indonesia and southern Canada, paludiculture allows farmers and others to use the land and keep the carbon in the soil.

A peatland is created by the partial decomposition of plants in bogs and fens. If the land is wet, peat can form; if it is dry, the carbon stored in the peat is released into the atmosphere.

Peatlands cover three per cent of the Earth’s surface, yet they retain 33 per cent of the carbon contained in terrestrial ecosystems. More than half of Québec’s terrestrial carbon stock is stored in peatlands, and their protection is essential to Canada’s plan to achieve net-zero emissions.

Southeastern Québec, the most populated and urbanized area of the province, lost 19 per cent of its peatlands between 1990 and 2011. Peatland drainage for agriculture accounts for an estimated 21 per cent of these losses, approximately 80,000 hectares. We estimate that peatlands drained for agriculture emit between 520,000 and 752,000 tonnes of carbon dioxide equivalent annually, about 10 per cent of the annual emissions from the Québec agricultural sector.

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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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