Soybean Prices – Historical Graph
Real-time chart of historical daily soybean prices. The prices are down in U.S. dollars per BU.
- The average price in the past 3 days is
- The average price in the past 7 days is
- The average price in the past 30 days is
- The average price in the past 365 days is
Popular questions about soybean prices:
Soybean Prices Explained
As you can see soybean prices are fluctuating. But why is that? And is there a way to predict the price of soybean?
Why are soybean prices fluctuating?
Generally, the prices of other grains such as corn and wheat highly impact the soybean market value however economic and trade factors also get a hand. Here are some:
1. Weather Conditions
The successive droughts in the US and hurricane Ian put a massive delay in American agricultural production.
This put commodity prices rising and soybean is not an exception.
2. Global Demand
The growing global demand for soybean makes its price high in the market. Major importers such as Japan and the European Union and the increasing Chinese demand push its price upward.
3. Ethanol Price
Corn is the key ingredient in making ethanol, however, soybean can be used as feedstock too. Therefore, an increase or decrease in ethanol demand and price can directly affect both corn and soybeans.
4. US Dollar
The US is the number one soybean producer and most commodities are traded in dollars. Therefore, soybean prices mirror dollar fluctuation. A strong dollar means an increase in soybean prices. Conversely, a weak dollar means a decrease in soybean prices.
5. Alternative Oils
Soybean oil competes with other oils such as rapeseed oil, castor oil, cottonseed oil, almond oil, and among others.
Supply, demand, and price changes in any of these oils can ultimately affect each other.
Which variables impact the price of soybean?
- Global Demand
- Oil Prices
- Ethanol Price
- Currency Fluctuations
- Trade Policies
Where does soybean come from?
Known as a ”miracle crop” in the US because of its versatility in different climates, soybean originated in China in the 11th century B.C.
Soybean cultivation in America became possible in 1765 because of Samuel Bowen, a farmer. Bowen made it possible to grow soybean in Savannah, Georgia and this culminated in the spread and massive cultivation of this plant.
Soybean proved their flexible usage in many ways:
1. During Civil War, soldiers use soybean as a coffee alternative
2. During Great Depression, soybean became an important staple in the American diet.
Today, the top soybean producers are in the United States, Brazil, Argentina, China, and India.
When is the soybean season?
Just like any other crop, the soybean season varies according to the country’s geographic location and climate.
In the US, the soybean season starts from spring to summer or late fall. Soybean planting begins from late April to early May and the harvesting period takes place from September to November.
In Brazil, soybean planting and harvesting is typically all-year round. In Argentina and Paraguay, the soybean season is from October to May.
Overall, while weather conditions influence soybean production and prices, other factors also impact its general market price.