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Manitoba Crop Report

Weekly Provincial Summary

Harvest completion across all regions of the province is 78%, ahead of the 5-year average of 69%, resulting from rapid push to harvest canola and start soybean crops.

Regrowth on drought-stressed soybeans has been observed in some fields in the most severely hit areas, seeing green soybean stems and new pods forming, but will likely not affect harvest quality.

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U.S. Corn Belt drought expanding need timely rains in June.
Rumors this week that China was lowering U.S, ag tariffs and wanting to buy U.S. corn?
Flood could damage crops in China like corn and wheat.
U.S./Iran 60-day truce = lower crude oil futures by end of June.
U.S. urea futures down 28%.
Soy oil and canola futures technically breaking out
+ CFTC.