Chicago Close: Soybeans Stronger to Begin Week

Dec 20, 2023

Soybean futures were stronger to start the week, while both corn and wheat finished with losses on the day.

Soybeans climbed on news Argentina’s new government planned to raise export taxes on soybean oil and soybean meal, a move that could lessen competition for US supplies. Soybeans were further underpinned by gains in crude oil after BP said it was suspending shipments via the Red Sea following more attacks on ships by Iran-aligned Houthi militants. On the other hand, rain is expected in Brazil later this week. January beans were up 11 ¼ cents at $13.27, and November added 7 ¾ cents at $12.84.

Corn was pressured by technical selling, with March corn down 6 cents to $4.77, and new-crop December down 3 ¾ cents at $5.08 ½.

Wheat fell as abundant Russian supplies continued to overhang the international market. March Chicago wheat fell 12 ¼ cents to $6.17, March Kansas City lost 15 cents to $6.27 ¾, and March Minneapolis dropped 9 ¼ cents to $7.21 ½.

Source : Syngenta.ca

Video: Winter Canola Trial in Mississippi | Can It Work for Double Cropping? | Pioneer Agronomy

Can winter canola open new opportunities for growers in the Mid-South? In this agronomy update from Noxubee County, Mississippi, Pioneer agronomist Gus Eifling shares an early look at a first-year winter canola trial and what farmers are learning from the field.

Planted in late October on 30-inch rows, the crop is now entering the bloom stage and progressing quickly. In this video, we walk through current field conditions, fertility management, and how timing could make this crop a valuable option for double-cropping soybeans or cotton.

If harvest timing lines up with early May, growers may be able to transition directly into another crop during ideal planting windows. Ongoing field trials will help determine whether canola could become a viable rotational option for the region.

Watch for:

How winter canola is performing in its first season in this Mississippi field

Why growers chose 30-inch rows for this trial

What the crop looks like as it moves from bolting into bloom

Fertility strategy, including nitrogen and sulfur applications

How canola harvest timing could enable double-cropping with soybeans or cotton

Upcoming trials comparing soybeans after canola vs. traditional planting

As more growers look for ways to maximize acres and diversify rotations, experiments like this help determine what new crops might fit into existing systems.