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OMAFRA releases latest Field Crop Report

Report was issued August 3

By Diego Flammini
Assistant Editor, North American Content
Farms.com

OMAFRA’s Field Crop Team released its latest Field Crop Report on August 3. The sporadic rains across the province are helpful - but are localized.

“Areas that have received rain are obviously doing better with the rains coming at a critical point in corn pollination and helping to extend the soybean pollination,” the report reads. “In regions where rain have failed to develop or where only small amounts of rain have been received, the crops continue to struggle.”

 

When it comes to forages, second cut harvest is either finished or currently underway, with some farmers placing quantity before quality.

“It appears that some producers may be sacrificing quality to get volume with delayed cutting.”

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The Field Crop Team reminds producers that to get new growth started with any coming rains it's important to harvest the current crop, regardless of quantity.

The winter wheat harvest in Ontario is wrapping up, and yields in the southwestern part of the province have excelled. However, the same can’t be said for other parts of the province.

“Lower yields are being reported in (the) central and east regions,” the report says.

Farmers completing their spring cereal harvest are reminded that the dry conditions make fields vulnerable to fires.

“Take the time to ensure you are reducing the risk,” says the report. "The alternative can be extremely costly in terms of crop and infrastrucutre losses."


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The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.