The soya bean is a species of legume and is one of the world’s most important oil plants, since around half of vegetable oil produced is obtained from the soya bean. Genetically modified soya beans are increasingly being used in soya cultivation, with the result that around 60 per cent of the world’s soya output comes from genetically modified plants. The soya bean is cultivated primarily in East Asia. To date, no soya bean plants have been discovered in the wild. (read more)
To grow and flourish, the soya bean plants need a lot of water and a warm climate. For this reason soya is cultivated primarily in the USA, Brazil and Argentina. Around 16 million tonnes of soya beans are imported into the EU each year, where they are processed by oil pressers. The largest share is used to produce animal feedingstuffs, while oil is only obtained from 3 million tonnes.
Soya is particularly significant because of its protein content (39 per cent) and its oil content (17 per cent), since no other plant offers comparable values. Soya is also used as an ingredient and additive in the food industry. It is estimated that around 30,000 foods contain ingredients derived from soya. Particularly in Asia, the protein-rich seeds are regarded as a foodstuff in their own right and are consumed. Soya milk can be produced from ground yellow soya beans, and then can be processed into tofu. Tofu is used as a meat substitute in vegetarian cookery because of its high protein content and because it contains all the essential amino acids.
Soya beans have been cultivated in China for around 5,000 years. The soya bean has only been known on other continents since the 17th and 18th century, however.
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Agriculture
| Name | Price | Unit |
|---|
| Soybeans | 12.27 | USD per Bushel |
| Soybean Oil | 0.45 | USD per lb. |
| Wheat | 246.75 | EUR per Ton |
| Sugar | 0.18 | USD per lb. |
15 more rowsUS Soybean Farm Price Received is at a current level of 11.90, down from 12.80 last month and down from 15.10 one year ago.
What is the outlook for soybean prices? ›
The 2024/25 U.S. season-average farm price for soybeans is forecast at $11.20 per bushel compared with $12.55 per bushel in MY 2023/24. Soybean meal and soybean oil prices are forecast to decline to $330.00 per short ton and $0.42 per pound, respectively.
What is the price of soybeans on the Chicago Board of Trade? ›
Commodities news
| Commodity | Last price/ contract | Today's change |
|---|
| Soybeans As of May 17 2024 19:19 BST. | 1,227.25 USc | +11.00 +0.90% |
| Feeder Cattle As of May 17 2024 19:04 BST. | 246.35 USc | +1.50 +0.61% |
| Soybean Meal As of May 17 2024 19:19 BST. | 368.80 USD | +1.10 +0.30% |
| Lumber -- | -- | -- |
11 more rowsUS Soybean Price is at a current level of 477.30, down from 487.49 last month and down from 614.93 one year ago. This is a change of -2.09% from last month and -22.38% from one year ago.
What is the break even price for soybeans? ›
2024 breakeven estimates
For full-season soybeans, the breakeven price to cover all costs is $12.40 for average-productivity soil and $11.70 for high-productivity soil, or about 5% lower than last year's breakeven prices. It is important to note that the Purdue budget uses average production costs.
Should I sell soybeans now? ›
Sell Soybeans Now
Still, soybean fundamentals are more positive than the supply and demand outlook for corn. Soybean export demand improved as the 2023/24 marketing year started, and expanded crush capacity helped domestic demand set new records late in the old-crop marketing year.
How much does a farmer make per bushel of soybeans? ›
For soybeans, the 2023 MYA price is projected at $12.10 per bushel, down from 2021 and 2022 levels of $13.60 and $14.35, respectively.
Why are soybean prices falling? ›
Lower soybean exports have grown domestic supply as competition with South America heats up. Soybean prices were forecast at $12.55 per bushel, down 10 cents from March estimates. Meanwhile, wheat prices were revised down 5 cents from a month ago to $7.10 per bushel.
What is the USDA forecast for soybeans? ›
The 2024/25 U.S. season-average soybean price is forecast at $11.20 per bushel compared with $12.55 per bushel in 2023/24.
The May 2024 WASDE provided the first projections of supply and demand for the new marketing year. If projections pan out, producers are looking at strong production for the 2024/25 marketing year, increased supply and lower prices for corn and soybeans.
What is the soybean prediction for 2024? ›
World soybean production for the 2023/24 season is anticipated to increase 4.9% compared to the previous season, going from 378.2 to 396.7 Mt.
What is the highest soybean price ever? ›
Historically, Soybeans reached an all time high of 1794.75 in September of 2012. Soybeans - data, forecasts, historical chart - was last updated on May 18 of 2024.
What are today's corn and soybean prices? ›
My Grain Bids
| Commodity | Last | Change |
|---|
| Corn | 452-4s | -4-4 |
| Soybeans | 1228s-0 | +11-6 |
| Wheat | 651-2s | -12-0 |
| Cotton | 0.7589s | -0.0035 |
2 more rowsChina is by far the largest importer of soybeans in the world. It sourced 63% of its soybean imports from Brazil from 2018-2022. The US was the second largest supplier with almost 30%. The EU also imports a lot of soybeans from both Brazil and the US.
How much is 1 acre of soybeans worth? ›
The expected gross profit for this productivity soil is $449/acre for corn and $442/acre for soybeans. Assuming a 50-50 rotation the average gross return would be $446/acre. The net return would be calculated by subtracting out the land rent.
What is the average bushel per acre for soybeans? ›
National soybean production in 2022 totaled 4.28 billion bushels, down 4 percent from 2021. The average yield was estimated at 49.5 bushels per acre, 2.2 bushels below 2021.
What is the harvest price of soybeans? ›
Soybeans. Settlement prices for the November 2023 soybean contract averaged $12.84 over the month of October. The $12.84 Harvest Price is $0.92, or 7%, below the Projected Price of $13.76.
