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Manitoba Crop Report- Week 1 Jun 2022

Weekly Provincial Summary

Provincial seeding progress sits at 40% completion, behind the 5-year average of 91% for Week 21. 

Progress remains highly variable within each region, and even from farm to farm, depending on localized rainfall and soil conditions.

Wet and slowly drying soils have presented numerous problems to growers, with many instances of tractors, seeders, and sprayers getting stuck, often in unexpected places.

Farm operators are forced to work very long hours, or overnight for 24 hour periods in an effort to seed crops while soil and weather conditions permit. Larger farms tend to be slightly further ahead in planting progress than smaller operators.

Poor condition gravel and dirt roads reduced timely field access in many regions, forcing growers to find alternate routes to fields, or travel at much slower speeds than normal.

Weather and soil conditions have led to shifting acreage plans, or order-of-operations changes.

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Despite a Super Strong El Nino the early South American soybean planting pace is ahead of schedule.
The long-term forecast looks dry for the North but wet for the South including Argentina.
China bought 1.5 mmt of U.S. soybeans this week with rumors of 2 mmt and now at 68% of 25 mmt commitment.
The question mark remains the Chinese pledge towards the $17 billion in ag purchases.
NOPA weekly crush report was lower than expected. Another hot U.S. wholesale inflation print this week.
Investors rotating out of AI
Weak U.S. pork demand weighing on hogs
+ CFTC.