March soybean futures settled at $15.94 per bushel, up 25¾¢, on February 9, 2022. That was a futures-market close for a particular contract and date—not a current quote or a universal price for soybeans.
What the headline’s price refers to
Successful Farming reported that March soybean futures rose 25¾¢ to settle at $15.94 per bushel on Wednesday, February 9, 2022. The headline rounded the gain to 25¢ and described the settlement as near $16. Read the February 9, 2022 market report.
Futures prices depend on the contract month and trading session. The figures below are the closes reported in that article; they should not be read as today’s market prices or as prices available for every physical soybean sale.
How other soybean contracts finished
| Contract | Reported close | Change that session |
|---|---|---|
| March soybean futures | $15.94 per bushel | Up 25¾¢ |
| May soybean futures | $15.95 per bushel | Up 23¢ |
| November new-crop soybean futures | $14.37 per bushel | Up 24½¢ |
All three closes are from Successful Farming’s February 9, 2022 report. The November contract was identified as new crop, while March and May were separate delivery months; their prices are therefore not interchangeable.
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What the February 9 report said about the market
The report appeared on the day USDA released its February Supply/Demand and WASDE reports. Successful Farming characterized the reports as prompting little reaction in grain markets. It also recorded a private exporter sale of 240,000 metric tons of soybeans for delivery to China during the 2022/2023 marketing year. These are details from the 2022 report, not current market developments.
The article said soybean crush increased by 25 million and ending stocks fell to 325 million bushels from January. Because the article’s passage does not specify a unit for the 25 million figure, it is best not to supply one without checking the original USDA report.
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What named market observers said at the time
Jason Roose’s assessment
Jason Roose of U.S. Commodities described grains as “cautiously firm” after that day’s monthly U.S. and world production report. As quoted in the February 9, 2022 story, he pointed to unchanged U.S. corn demand and ending stocks of 1.54 billion bushels, lower soybean ending stocks, and slightly reduced Brazil and Argentina production estimates. He said traders would be focused on China imports, U.S. weather, and energy markets. This was Roose’s contemporaneous market assessment, not a current forecast.
Bob Linneman’s outlook
Bob Linneman of Kluis Advisors wrote that he expected South American soybean crop estimates to fall in future USDA reports, citing deteriorating crop conditions and yield potential. He also said he saw growing global soybean demand and no evidence of price rationing at that time. Those remarks were a dated outlook, not confirmation of what later occurred or a present-day expectation.
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Related soybean products also rose
The same report listed March soymeal at $461.90 per short ton, up $7.80, and soybean oil at 64.10¢ per pound, up 0.75¢, on February 9, 2022. Soymeal and soybean oil are distinct products with different quoted units; neither figure is a soybean price per bushel.
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- Good Eats - Harvest when pods are green and enjoy edamame or allow the pods to dry and shell to eat them boiled or steamed.
- Easy to Grow - Instructions included on each packet. Plus, we are available to answer all your questions. If these seeds don’t germinate, we will happily make it right for you.
- Safe and Sustainable - Our operation is fully solar powered, and Sow Right Seeds has taken the Safe Seed Pledge to sell only fresh Non-GMO heirloom seeds for you and your family.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
