Foodgrains Bank Harvest Continues In Manitoba

Sep 04, 2015

Harvest is less than halfway complete for Canadian Foodgrains Bank Crops in Manitoba. Wheat crops, such as the CHUM (Communities Helping Undernourished Millions) field near Rosenfeld, are quickly coming off the field, with canola harvest also starting up.

Harold Penner, the Foodgrains Bank's regional coordinator for Manitoba, says they also have quite a bit of long-season crops, like corn, soybeans, and sunflowers, which is something they've been seeing more in recent years.

"Since we stopped shipping grain from Canada, when food aid was untied, we don't really care what crops are grown, everything gets converted to cash," he says. "So a lot of these fields that are in a rotation, for years and years already people just keep rotating their crops like they would on their own farm and grow whatever suits them."

Source : PortageOnline

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!