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: A chain harrow is a game changer

Utilizing a rotational grazing method on our farmstead with our sheep helps to let the pasture/paddocks rest. We also just invested in a chain harrow to allow us to drag the paddocks our sheep just left to break up and spread their manure around, dethatch thicker grass areas, and to rough up bare dirt areas to all for a better seed to soil contact if we overseed that paddock. This was our first time really using the chain harrow besides initially testing it out. We are very impressed with the work it did and how and area that was majority dirt, could be roughed up before reseeding.

Did you know we also operate a small business on the homestead. We make homemade, handcrafted soaps, shampoo bars, hair and beard products in addition to offering our pasture raised pork, lamb, and 100% raw honey. You can find out more about our products and ingredients by visiting our website at www.mimiandpoppysplace.com. There you can shop our products and sign up for our monthly newsletter that highlights a soap or ingredient, gives monthly updates about the homestead, and also lists the markets, festivals, and events we’ll be attending that month.