There continues to be a convergence between new crop organic soybean prices and old-crop as the harvest gets underway. Bids in the mid-West are as high as $31-32 per bushel in the mid-West. Old-crop bids are between $35 and $38 in the mid-West. The coast is experiencing elevated prices. According to merchandisers, new-crop transactions are taking place in the $36-$38 range for Q1 and Q2 in Pennsylvania. In Quebec, new-crop organic soybeans have traded near $29 per bushel. Farmers seem to want to take advantage of the elevated price levels but believe that if they hold on to their soybeans, they could receive prices as high as $35-38 per bushel during the Q2 and Q3 of 2022 mid-West. Some farmers are getting very bulled up and looking for prices in the $ ’40s. The old bulls are the new bears.
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