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Manitoba Sees Increase In Spring Wheat, Canola, And Soybean Acres

In its updated seeded acreage report, Statistics Canada is showing that Manitoba farmers either planted or intended to plant more spring wheat, canola, and soybeans compared to 2014.
 
Provincially, 3.0 million acres of spring wheat went into the ground, which is up 17.3 per cent from last year.
 
Nationally, 5.8 million acres of durum wheat was planted, in addition to 17.1 million acres of spring wheat for a total increase 1.3 per cent.
 
For canola, Manitoba saw a 4.7 per cent increase with a total of 3.1 million acres.
 
Canola was down 2.4 per cent nationally with a total of 19.8 million.
 
Manitoba farmers also reported a 4.7 per cent increase in soybeans with 1.3 million acres seeded.
 
Across Canada, soybeans failed to reach last year's record high, down 2.5 per cent to 5.4 million acres.
 
Source : PortageOnline

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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!