Home Indiana Agriculture News Soybean Prices Reach Record High

Soybean Prices Reach Record High


Expectations for Tropical Storm Isaac to cause more damage to crops already affected by the drought has caused the price of soybeans to reach a record high. Those for September delivery have reached nearly 17-dollars and 70-cents per bushel and November delivery reached around 17-dollars and 63-cents per bushel. The storm has moved into the Delta and in some areas of Arkansas, Illinois and Indiana – flooding some soybean fields.


While some areas had fairly good soybean crops – those crops now face more problems with the storm hitting soybeans in the final phase of growth – which don’t need a lot of moisture or the wind that could flatten the plants. Nearly 40-percent of the U.S. soybean crop is in poor to very poor condition and global supplies are low – though demand is strong.


Source: NAFB News service