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Rain Delaying Harvest, But Not Damaging Soybeans And Corn

The ongoing rain is delaying the harvest of soybeans and silage corn here in southeastern Manitoba. But Marc Hutlet of Marc Hutlet Seeds at Ste. Anne, says the excess rain is not causing any damage to the soybean and corn crops at this time. He adds farmers would appreciate a dry spell so they could get the crop in the bin. Hutlet notes tests done earlier indicate yields could be a little better than expected.
 
"We had done a couple of trials and yields were a little better than we had expected, so that's a positive. There have been no concerns yet with early shattering as the early-maturing soybeans varieties were just coming into play, in terms of being ready."
 
Hutlet says some silage corn is being harvested between rains.
 
"There are some guys that are silaging and the crop is good, although there are some tracks being made and it's not pretty in some fields. But there is some activity out there because, for them, it's time, the staging of the crop is there and so if they can travel at all, they are out there."
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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!