Translating the USDA soybean price forecast – 8/19/2020
The USDA forecast the season average soybean price at farm level in 20/21 at $8.35 compared to $8.55 during the season just concluded. The $8.35 forecast would suggest a season high of $10.36 and season low of $7.25 basis cash soybeans in Central Illinois. Our studies are based on the years 1993/94 through 2019/2020.Of course the high and low forecast will vary as USDA adjusts the farm forecast during the season.