Illinois Soybeans Price — USDA NASS Monthly & MYA Data
Illinois Soybeans price reached $12.20/bu in August 2026 — about $0.10/bu above the US average of $12.10/bu. Monthly price received by producers, sourced directly from USDA NASS.
Soybeans monthly price trend
Illinois vs the US average, last 24 months of USDA NASS data
| Month | Illinois price | US average |
|---|---|---|
| 2020-01 | $9.00/bu | $8.84/bu |
| 2020-02 | $8.81/bu | $8.60/bu |
| 2020-03 | $8.78/bu | $8.47/bu |
| 2020-04 | $8.42/bu | $8.35/bu |
| 2020-05 | $8.40/bu | $8.28/bu |
| 2020-06 | $8.49/bu | $8.34/bu |
| 2020-07 | $8.72/bu | $8.50/bu |
| 2020-08 | $8.88/bu | $8.66/bu |
| 2020-09 | $9.43/bu | $9.24/bu |
| 2020-10 | $9.93/bu | $9.63/bu |
| 2020-11 | $10.10/bu | $10.30/bu |
| 2020-12 | $10.30/bu | $10.60/bu |
| 2021-01 | $10.60/bu | $10.90/bu |
| 2021-02 | $12.40/bu | $12.70/bu |
| 2021-03 | $13.10/bu | $13.20/bu |
| 2021-04 | $13.90/bu | $13.90/bu |
| 2021-05 | $14.90/bu | $14.80/bu |
| 2021-06 | $14.30/bu | $14.50/bu |
| 2021-07 | $14.00/bu | $14.10/bu |
| 2021-08 | $13.90/bu | $13.70/bu |
| 2021-09 | $12.20/bu | $12.20/bu |
| 2021-10 | $12.00/bu | $11.90/bu |
| 2021-11 | $12.10/bu | $12.10/bu |
| 2021-12 | $12.50/bu | $12.50/bu |
| 2022-01 | $12.80/bu | $12.90/bu |
| 2022-02 | $14.70/bu | $14.70/bu |
| 2022-03 | $15.40/bu | $15.40/bu |
| 2022-04 | $16.00/bu | $15.80/bu |
| 2022-05 | $16.50/bu | $16.10/bu |
| 2022-06 | $16.60/bu | $16.40/bu |
| 2022-07 | $15.90/bu | $15.50/bu |
| 2022-08 | $15.60/bu | $15.30/bu |
| 2022-09 | $14.50/bu | $14.20/bu |
| 2022-10 | $13.50/bu | $13.50/bu |
| 2022-11 | $13.80/bu | $14.00/bu |
| 2022-12 | $14.40/bu | $14.40/bu |
| 2023-01 | $14.30/bu | $14.50/bu |
| 2023-02 | $15.10/bu | $15.10/bu |
| 2023-03 | $15.00/bu | $14.90/bu |
| 2023-04 | $15.00/bu | $14.90/bu |
| 2023-05 | $14.30/bu | $14.40/bu |
| 2023-06 | $14.50/bu | $14.20/bu |
| 2023-07 | $14.80/bu | $14.70/bu |
| 2023-08 | $14.20/bu | $14.10/bu |
| 2023-09 | $13.10/bu | $13.20/bu |
| 2023-10 | $12.80/bu | $12.70/bu |
| 2023-11 | $13.10/bu | $13.00/bu |
| 2023-12 | $13.30/bu | $13.10/bu |
| 2024-01 | $13.00/bu | $12.80/bu |
| 2024-02 | $12.00/bu | $11.90/bu |
| 2024-03 | $11.90/bu | $11.80/bu |
| 2024-04 | $11.70/bu | $11.80/bu |
| 2024-05 | $12.10/bu | $11.90/bu |
| 2024-06 | $11.80/bu | $11.80/bu |
| 2024-07 | $11.60/bu | $11.30/bu |
| 2024-08 | $10.60/bu | $10.30/bu |
| 2024-09 | $10.20/bu | $10.20/bu |
| 2024-10 | $10.10/bu | $9.91/bu |
| 2024-11 | $10.10/bu | $9.84/bu |
| 2024-12 | $10.00/bu | $9.79/bu |
| 2025-01 | $10.20/bu | $10.00/bu |
| 2025-02 | $10.30/bu | $10.20/bu |
| 2025-03 | $10.20/bu | $10.20/bu |
| 2025-04 | $10.30/bu | $10.20/bu |
| 2025-05 | $10.90/bu | $10.40/bu |
| 2025-06 | $10.50/bu | $10.40/bu |
| 2025-07 | $10.40/bu | $10.20/bu |
| 2025-08 | $10.30/bu | $10.00/bu |
| 2025-09 | $10.00/bu | $9.93/bu |
| 2025-10 | $9.96/bu | $9.69/bu |
| 2025-11 | $10.60/bu | $10.50/bu |
| 2025-12 | $10.60/bu | $10.30/bu |
| 2026-01 | $10.50/bu | $10.30/bu |
| 2026-02 | $10.90/bu | $10.60/bu |
| 2026-03 | $11.30/bu | $11.10/bu |
| 2026-04 | $11.40/bu | $11.20/bu |
| 2026-05 | $11.80/bu | $11.60/bu |
| 2026-06 | $11.60/bu | $11.30/bu |
| 2026-07 | $11.80/bu | $11.60/bu |
| 2026-08 | $12.20/bu | $12.10/bu |
How Illinois compares
Top Soybeans-producing states, August 2026 price
| State | Price | vs US avg |
|---|---|---|
| North Carolina | $12.4/bu | +2.5% |
| Ohio | $12.4/bu | +2.5% |
| Illinois | $12.2/bu | +0.8% |
| Missouri | $12.2/bu | +0.8% |
| Indiana | $12.1/bu | +0% |
| Iowa | $12.1/bu | +0% |
| Kansas | $12.1/bu | +0% |
| Nebraska | $12.1/bu | +0% |
What this price means for Illinois Soybeans farmers
Illinois soybeans averaged $12.20 per bushel in August 2026, sitting just $0.10 above the national average of $12.10 for the same month. That slim premium over the US figure reflects local basis conditions — primarily transportation logistics, regional elevator competition, and proximity to processing crush facilities — rather than any meaningful difference in crop quality between Illinois and other producing states. Looking at the broader marketing-year picture, Illinois' current MYA price of $10.70 per bushel (preliminary) represents a $0.50 improvement over the prior year's finalized MYA of $10.20, a sign that producers who held grain into a strengthening market captured meaningfully better returns than the year before.
When using these figures for marketing and selling decisions, it is important to distinguish between the monthly spot print and the marketing-year average, because they serve very different purposes. Locking in a forward contract based on a single August high of $12.20 can be a sound tactical move when cash flow needs are immediate and basis is favorable, but it carries the risk of anchoring expectations to a price that may not persist through the rest of the marketing year. The MYA of $10.70, by contrast, smooths out monthly volatility and gives a far more reliable baseline for annual revenue planning, loan repayment schedules, and input cost recovery analysis. Agronomists and farm managers should budget conservatively around the MYA and treat any month where cash prices significantly exceed that figure as a potential opportunity to layer in additional forward sales rather than a new floor to plan around.
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Frequently asked questions — Illinois Soybeans price
Why is the Illinois soybean price of $12.2/bushel higher than the US average of $12.1/bushel in August 2026?
Illinois soybean prices typically run above the national average due to the state's proximity to major crush facilities, river terminals along the Illinois and Mississippi Rivers, and strong export infrastructure, all of which compress the local basis in favor of producers. This $0.10/bushel premium over the US average of $12.1/bushel reflects Illinois's structural marketing advantages relative to more remote production regions. Farmers in Illinois can use this basis relationship as a benchmark when evaluating local elevator bids against national price benchmarks.
What is the difference between the Illinois August 2026 soybean price of $12.2/bushel and the marketing-year-average price of $10.7/bushel?
The $12.2/bushel figure is a single-month price snapshot for August 2026, reflecting current cash market conditions, while the marketing-year-average (MYA) price of $10.7/bushel represents the weighted average price received by farmers across the entire September-to-August marketing year. The $1.50/bushel gap between them indicates that August prices are currently elevated relative to what producers received on average throughout the full marketing year, which matters when calculating crop insurance indemnities or comparing forward contract values to historical norms. Agronomists and farm managers should use the MYA price when projecting whole-season revenue rather than relying on a single monthly observation.
How frequently does the USDA update Illinois soybean price data, and where does this data originate?
The USDA National Agricultural Statistics Service (NASS) publishes monthly state-level soybean prices through its Agricultural Prices report, typically released on the last business day of each month. These prices are collected via surveys of grain handlers and elevators across Illinois and represent prices actually received by farmers during that reference period. Because updates occur monthly, producers should check each new release to track price trends and adjust their marketing strategies accordingly throughout the crop year.
How can I use Illinois soybean price data alongside yield estimates to project farm revenue for 2026?
To estimate gross revenue, multiply your expected or actual yield per acre by the relevant price: for example, at Illinois's August 2026 price of $12.2/bushel, a yield of 60 bushels per acre projects to $732 per acre in gross revenue. For a full-season revenue estimate, use the MYA price of $10.7/bushel instead, which at 60 bu/acre yields $642 per acre and better reflects income spread across different sales timing throughout the marketing year. Comparing both figures helps farmers evaluate the revenue impact of forward contracting early versus storing grain and selling into stronger late-season markets like August 2026.