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Harvest Nearing Completion In Manitoba

Manitoba Agriculture says total harvest completion sits at 95%, well ahead the three-year average of 79% at this time.
 
Fall fieldwork continues and anhydrous ammonia applications have started.
 
Soybean harvest is virtually complete, sitting at 92% done.
 
"Soybean yields have been average to good for the most part," said Industry Development Specialist Dane Froese. "Generally yields are in the 35 to 45 bushel an acre range, which is better than some expected given how dry August was across much of Manitoba."
 
Corn harvest rapidly progressed over Thanksgiving weekend, with many producers finishing and grain moisture ranging from 18 to 24%. Grain dryers have been going, though for significantly less time than last year. Provincially, the grain corn harvest is 49% done.
 
Cattle are being removed from community and private pastures, and back to overwintering yards. Greenfeed silage supplies have boosted some farmers’ outlook for overwintering feedstocks, though pastures are often in fair to poor condition, with very dry surfaces.
 
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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!