November 12, 2010

High international prices spark local interest in soy

High international demand for soy has caused world prices to rise to a two-year high, providing an excellent opportunity for growers, according to an analyst.

"High international prices for soy influences soy-based stockfeeds, and increased water allocations mean growers should be seriously considering soy as a summer break crop," the analyst said.

"Soy is a summer crop planted late in the year, usually in November and December, and generally harvested in March-April the following year," he said.

"Soy provides a disease break from continuous cereals, as a legume leaves considerable nitrogen behind for following crop, and allows alternate herbicide usage, reducing the risks of herbicide resistance," he said.

The analyst added that soy also required considerably less water (generally 6 to 8 megalitres/hectare) as compared to corn.

"They are a fast growing crop with current varieties averaging about 115 days from sowing to plant maturity," he said.