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Manitoba’s West Interlake hay situation dire

The Rural Municipality of West Interlake has called on provincial and federal governments for assistance as the region faces critically low rain levels and crop yields.
 
Current hay yields in the region are about 50 per cent of average. Typically, an average hay crop produces about one bale of hay per acre. Alternative feed sources are hard to come by due to high shipping expenses associated with delivering feed to the area.
 
 
Last week, the Council requested that the Canadian government and Manitoba’s Department of Agriculture “provide support and Ag Recovery to our farmers for tax deferrals, feed shortages, freight assistance, and compensation for additional wells being drilled,” as detailed in a resolution that was obtained by Portageonline.com.
 
These dire conditions are on the heels of an equally challenging 2018 growing season. With almost no carryout hay stocks from the previous year, some producers may have to sell off their herds.
 
As of July 31, Agriculture and Agri-Food Canada’s Drought Monitor characterized the Interlake region as mostly “abnormally dry” with some areas experiencing “moderate drought” conditions.
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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!