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: Plot Day

Border View Farms is a mid-sized family farm that sits on the Ohio-Michigan border. My name is Nathan. I make and edit all of the videos posted here. I farm with my dad, Mark and uncle, Phil. We also have a part-time employee, Brock. My dad started the farm in 1980. Since then we have grown the operation from just a couple hundred acres to over 3,000. Watch my 500th video for a history of our farm I filmed with my dad.

I started making these videos in the fall of 2019 as a way to help show what I do on a daily basis as a farmer. Agriculture is different from any other industry and I believe the more people that are showing their small piece of agriculture, helps to build our story. We face unique challenges and stressful situations but have some of the most rewarding payoffs in the end. I get to spend everyday doing what I love, raising my kids on the farm, and trying to push our farm to be better every year. I hope that I can address questions or concerns that you might have about farms and agriculture.

I hope you enjoy my content and ask questions as you have them. I do my best to answer anything I can. Thanks for watching!

I appreciate you subscribing to my channel and liking my videos. You can also find me on Facebook facebook.com/borderviewfarms and on Instagram @borderviewfarms