Tractor harvesting soybeans in a field

Soybeans Price Outlook

Soybean prices increased robustly over the past month, likely due to stronger U.S. export data. That said, a healthier supply outlook likely capped the overall gain. Soybeans traded at USD 1,370 cents per bushel on 14 January, which was up 8.8% from the same day last month. Moreover, the price was 3.1% higher on a year-to-date basis but was down 4.2% from the same day last year. Prices for soybeans were up at the start of the year on the back of upbeat U.S. export data, which showed that exports hit a record high in the 2020–2021 marketing year. Moreover, elevated fertilizer costs and some supply chain disruptions likely also added some support to prices. That being said, improved weather conditions across parts of South America supported the supply outlook, which should have capped the overall rise. Moreover, a stronger USD in recent weeks likely also weighed somewhat on prices.

Soybeans Price History Data (USD cents per bushel, aop)

2015  2016  2017  2018  2019  
Soybeans 943.11  987.01  977.8  934.24  892.18  

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Soybeans Historical Price Chart


Soybeans historical price chart
Note: Chicago Board Of Trade (CBOT) Soybeans, prices in USD cents per bushel (bu). Daily prices.

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