Heavy rains fell in southwestern Ontario over the past two weeks, with the amounts ranging between 50 and 100 millimetres. Lesser amounts (10 to 25 mm) were reported in the Windsor area. The rains helped boost soil moisture levels for the filling of corn and soybean crops. The moisture was also welcome for improving soil moisture conditions for the planting of winter cereal crops.
Normal to above-normal temperatures were reported across southern Ontario over the past two weeks with highs ranging from the low- to mid-20 degrees Celsius. The mild temperatures have helped encourage row crop development with the corn crop mostly in the denting stage. Soybeans also advanced rapidly with the bulk of the crop in the podding stage with some early fields beginning to drop their leaves. The current weather forecast is calling for temperatures to remain moderate during the first half of September.
Wheat bolstered by Black Sea conflict
Wheat has finally awoken from a long slumber and has staged a major rally over the past week. The December contract is currently trading above the US$7.80 per bushel level. These are the highest levels for the nearby contract since July 2023. Support for wheat is coming from the ongoing conflict in the Black Sea region. Russian and Ukrainian wheat shipments have been minimal during August as both sides attack export facilities and shipping.
The jump in wheat prices is a late attempt by the market to secure additional winter wheat acreage for the 2027crop. Planting will begin soon in the North America but the increase in wheat prices may not attract significant area. Prices for corn and soybeans have also increased over the past month. Wheat is unlikely to attract significant increases during this fall. That is good news for wheat prices in the coming weeks and months.
The post Bruce Burnett’s Ontario weather and markets, Sept. 10 appeared first on Farmtario.
