USDA Soybean Meal Price Forecast Suggests Upside Potential – 10/16/2021
In the October WAOB report the USDA forecast the average soybean meal price for the 2021/2022 crop year at $325 per short ton. The accompanying scatter studies plot the high and low monthly values for soybean meal as a function of the USDA’s October price forecast. The studies suggest a $300 to $400 price range for the October 2021 through May 2022 period. All soybean Meal prices in the study are 48% protein basis central Illinois.