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Farmers Wrapping Up Winter Wheat Seeding

Manitoba's winter wheat seeding is nearing completion, with most of the province's canola crop already off the field.
 
Doug Martin is with the Manitoba Crop Alliance.
 
"There's a little bit more interest this year," he said. "Not like it used to be, but there's the odd guy sticking some in here and there. Overall, I think the acres will be up somewhat but not a big amount. I think with fall rye, I think the acres are going to be really scaled back. COVID has really hit that market hard. Even for old crop from last year there's very little movement."
 
Martin says 2020 yields were a bit disappointing for both crops.
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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!