After a rough few months, there finally seems to be some optimism when looking at the soybean markets.

Jon Driedger is a market analyst with FarmLink Marketing Solutions.

"I think in many ways you can say that maybe the worst is behind us, or at least that's what we feel in terms of there was a lot of bad news that had been priced into this market, kind of over the late spring and early summer. We're seeing prices bounce off a little bit and again there's so much uncertainty now with what will shake out between China and the U.S. and that trade dispute. Obviously we don't know exactly what that harvest will be like. We haven't taken crop off the field. Within all the uncertainty, maybe in some ways you might think that maybe the worst of the news is behind us and I think the market has started to claw its way back a little bit, just kind of in response to that."

Driedger was a guest speaker at the Legend Seeds Knowledge Plot Tour held Wednesday near Winkler.

He also touched on the corn markets.

"We have a pretty good outlook for corn here going forward overall, and again uncertainty in terms of what the yield will be in the U.S., if they pull off a bigger yield than expected. Obviously, that would be a bit of a head wind, but I think within that, a larger, wider global backdrop is, we have a tightening market globally for corn. Ending stocks going forward look to dwindle, particularly maybe in some key exporting countries and we think that's a supportive backdrop. At the same time that global wheat and barley supplies are also tightening up. So all of that gives us a pretty good outlook."

Drieger says he'll be watching the corn yield number coming out in the USDA WASDE report on Friday.

More Ag News

Cattle Slaughter Numbers Up

Cattle producers have taken a hard look at their herd this year when it comes to production and management. Anne Wasko is a market analyst with Cattle Trends and says slaughter numbers are up for a…

Monsanto Winnipeg Office Closing

Bayer Canada will be moving the former Monsanto 'legacy' head office located in Winnipeg to Calgary, where Bayer's CropScience Division is headquartered. The move is said to impact 71 staff at the…

Canada West Foundation CEO Says Canada Should Dismantle Supply Management

The President and CEO of the Canada West Foundation believes dairy farmers and Canadians would be better off without supply management. Martha Hall Findlay says, as well as allowing the Americans…

Farmers Taking Advantage Of Summer-Like Conditions

Sunflower growers in the province still have a large majority of the crop left out in the field. However, Ben Friesen with Scoular Canada says we're still ahead of schedule. "We were definitely…

Canada Hosts China's Minister of Agriculture

This week, China's minister of agriculture and rural affairs made a couple of stops in Canada. Minister Han Changfu led a mission to Quebec and Ontario, where he visited with Canada's Agriculture…

Making Winter Wheat Canada's New Premium Quality Product

A winter wheat breeder in Lethbridge is working to change western winter wheat into Canada's new premium quality product over spring wheat. Dr. Robert Graf with Agriculture and Agri-Food Canada…

Farmers Hoping To Advance Corn Harvest This Week

Manitoba farmers still have about 70 per cent of this year's grain corn crop left to harvest. Morgan Cott is an agronomist with the Manitoba Corn Growers Association. "We're still good, but I think…

Calf Prices Remain 'Fairly Strong'

Calf prices remain fairy strong and are getting close to where they were last year. That from Canfax market analyst Brian Perillat. "We're just going to probably start to get into some bigger volumes…

CPTPP Bill Passes Third Reading

The act to implement the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) passed third reading in the House of Commons on Tuesday. Bill C-79 passed with a vote of 236 to 44. It still…

Healing And Health Through Food

The Canadian Centre for Agri-Food Research in Health and Medicine in Winnipeg is doing work to learn more about harnessing the health benefits of the food we eat. Researchers and their work on foods,…

Cereals Canada Takes Part In Italy Meetings

Cereals Canada President Cam Dahl joined Federal Agriculture Minister Lawrence MacAulay during a stop in Italy last week. The two took part in talks surrounding country of origin labelling on pasta,…

Canada Secures Access In Key ASEAN Markets

The Government of Canada has announced new market access for live cattle exports to the Philippines, as well as sheep and goat genetics exports to Indonesia and the Philippines. “Canada is building…

Steinbachonline.com is Steinbach's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login