Manitoba Acres Shift Away From Soybeans

Soybean acres in Manitoba this summer will end up well below expectations, as planting delays and insurance deadlines cause producers to shift away into canola.

Statistics Canada had pegged the intended soybean area in Manitoba around 690,000 acres following a survey in late March, a sharp increase from last year’s 520,000 acres. However, with a good portion of the prime soybean-growing parts of the province under water this spring, the actual area will likely end up in the 300,000- to 400,000-acre range, said Roger Kissick of Linear Grain in Carman, Manitoba.

“The 680,000 to 700,000 acres was going to happen under ideal conditions, and we’re obviously not getting ideal conditions,” said Kissick.

He said producers will still try to put soybeans in if they can, but with the full crop insurance deadline for soybeans in most of the province passing on May 30, and the deadline in south-central Manitoba on June 6, he said he expected any unseeded acres would shift into other crops.

While strong soybean prices could still encourage some later seeding, Kissick pointed out canola prices are also good and “they have a better chance of having the canola crop mature then they do the beans.”

However, soybeans did show they could handle wet conditions better than other crops a year ago, which may keep some interest in seeding the crop after insurance deadlines have passed, said Kissick.

From a marketing standpoint, Manitoba soybean acreage will have very little effect on prices, as the province is a very small player, he said. He noted end-users in the province already bring up a large amount of soymeal from the U.S., and will continue to do so if local supplies are not available.

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Phil Franz-Warkentin - MarketsFarm

Phil Franz-Warkentin writes for MarketsFarm specializing in grain and commodity market reporting.

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