Soybeans Experience Volatile Week

CHATHAM - Aug 1/03 - SNS -- Soybean futures markets on the Chicago Board of Trade experienced a volatile week, notes Kim Cooper, Market Co-ordinator, Ontario Soybean Growers, in his latest market review

According to the latest crop report from the Ontario Ministry of Agriculture and Food (OMAF), soybeans are growing rapidly. Most fields in the province now have full canopies and are in full flower and early pod set. Generally, soybeans have had enough moisture to result in excellent pod set.

"Soybeans flower for 3 - 4 weeks and will produce more flowers than are needed for a full crop," Cooper wrote. "By having a long flowering period and producing excess flowers the plant ensures that a short period of stress does not significantly reduce overall pollination. In a 2.7 metric tons per hectare (40 bushel per acre) crop, only about 25% of the flowers develop into mature pods containing seeds."

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