Ontario Soybeans at Risk from Prolonged Heat Wave

The hot and dry weather in Ontario has put soybean yields at risk. The region received average precipitation from June 16 to July 13, but temperatures were two degrees warmer than normal during this period.

According to the forecast, similar conditions are expected for the next month. In the US Midwest, normal precipitation is predicted along with above-normal temperatures. Minor yield drag on corn and soybean crops in the region is anticipated.

Soybeans in Ontario have reached the pod-setting stage, a critical period for crop development. Above-average temperatures will continue to pose a risk to yields.

Ontario soybean prices have rallied approximately 50 cents per bushel from recent lows due to increased demand and commercial buying activity.