Michigan Soybeans Price — USDA NASS Monthly & MYA Data
Michigan Soybeans price reached $12.30/bu in July 2026 — about $0.70/bu above the US average of $11.60/bu. Monthly price received by producers, sourced directly from USDA NASS.
Soybeans monthly price trend
Michigan vs the US average, last 24 months of USDA NASS data
| Month | Michigan price | US average |
|---|---|---|
| 2020-01 | $9.03/bu | $8.84/bu |
| 2020-02 | $8.94/bu | $8.60/bu |
| 2020-03 | $8.90/bu | $8.47/bu |
| 2020-04 | $8.75/bu | $8.35/bu |
| 2020-05 | $8.59/bu | $8.28/bu |
| 2020-06 | $8.80/bu | $8.34/bu |
| 2020-07 | $8.65/bu | $8.50/bu |
| 2020-08 | $8.89/bu | $8.66/bu |
| 2020-09 | $9.45/bu | $9.24/bu |
| 2020-10 | $9.92/bu | $9.63/bu |
| 2020-11 | $10.80/bu | $10.30/bu |
| 2020-12 | $11.30/bu | $10.60/bu |
| 2021-01 | $11.80/bu | $10.90/bu |
| 2021-02 | $13.40/bu | $12.70/bu |
| 2021-03 | $13.20/bu | $13.20/bu |
| 2021-04 | $13.90/bu | $13.90/bu |
| 2021-05 | $14.60/bu | $14.80/bu |
| 2021-06 | $16.20/bu | $14.50/bu |
| 2021-07 | $15.30/bu | $14.10/bu |
| 2021-08 | $15.20/bu | $13.70/bu |
| 2021-09 | $12.90/bu | $12.20/bu |
| 2021-10 | $12.30/bu | $11.90/bu |
| 2021-11 | $12.80/bu | $12.10/bu |
| 2021-12 | $12.50/bu | $12.50/bu |
| 2022-01 | $13.50/bu | $12.90/bu |
| 2022-02 | $15.80/bu | $14.70/bu |
| 2022-03 | $16.00/bu | $15.40/bu |
| 2022-04 | $16.50/bu | $15.80/bu |
| 2022-05 | $16.60/bu | $16.10/bu |
| 2022-06 | $16.80/bu | $16.40/bu |
| 2022-07 | $16.80/bu | $15.50/bu |
| 2022-08 | $16.80/bu | $15.30/bu |
| 2022-09 | $15.60/bu | $14.20/bu |
| 2022-10 | $13.90/bu | $13.50/bu |
| 2022-11 | $14.30/bu | $14.00/bu |
| 2022-12 | $14.60/bu | $14.40/bu |
| 2023-01 | $15.30/bu | $14.50/bu |
| 2023-02 | $15.10/bu | $15.10/bu |
| 2023-03 | $15.50/bu | $14.90/bu |
| 2023-04 | $15.60/bu | $14.90/bu |
| 2023-05 | $15.30/bu | $14.40/bu |
| 2023-06 | $14.90/bu | $14.20/bu |
| 2023-07 | $15.20/bu | $14.70/bu |
| 2023-08 | $14.90/bu | $14.10/bu |
| 2023-09 | $14.30/bu | $13.20/bu |
| 2023-10 | $12.90/bu | $12.70/bu |
| 2023-11 | $13.30/bu | $13.00/bu |
| 2023-12 | $13.40/bu | $13.10/bu |
| 2024-01 | $13.30/bu | $12.80/bu |
| 2024-02 | $12.30/bu | $11.90/bu |
| 2024-03 | $12.20/bu | $11.80/bu |
| 2024-04 | $12.00/bu | $11.80/bu |
| 2024-05 | $12.60/bu | $11.90/bu |
| 2024-06 | $12.30/bu | $11.80/bu |
| 2024-07 | $12.40/bu | $11.30/bu |
| 2024-08 | $11.40/bu | $10.30/bu |
| 2024-09 | $11.50/bu | $10.20/bu |
| 2024-10 | $10.40/bu | $9.91/bu |
| 2024-11 | $9.94/bu | $9.84/bu |
| 2024-12 | $10.10/bu | $9.79/bu |
| 2025-01 | $10.40/bu | $10.00/bu |
| 2025-02 | $10.50/bu | $10.20/bu |
| 2025-03 | $10.60/bu | $10.20/bu |
| 2025-04 | $10.70/bu | $10.20/bu |
| 2025-05 | $10.80/bu | $10.40/bu |
| 2025-06 | $10.90/bu | $10.40/bu |
| 2025-08 | $10.40/bu | $10.00/bu |
| 2025-09 | $10.10/bu | $9.93/bu |
| 2025-10 | $9.86/bu | $9.69/bu |
| 2025-11 | $11.00/bu | $10.50/bu |
| 2025-12 | $10.90/bu | $10.30/bu |
| 2026-01 | $10.80/bu | $10.30/bu |
| 2026-02 | $11.30/bu | $10.60/bu |
| 2026-03 | $11.60/bu | $11.10/bu |
| 2026-04 | $11.80/bu | $11.20/bu |
| 2026-07 | $12.30/bu | $11.60/bu |
How Michigan compares
Top Soybeans-producing states, July 2026 price
| State | Price | vs US avg |
|---|---|---|
| Michigan | $12.3/bu | +6% |
| Kentucky | $12.2/bu | +5.2% |
| North Carolina | $12.2/bu | +5.2% |
| Ohio | $12.1/bu | +4.3% |
| Tennessee | $12/bu | +3.4% |
| Indiana | $11.9/bu | +2.6% |
| Louisiana | $11.9/bu | +2.6% |
| Illinois | $11.8/bu | +1.7% |
What this price means for Michigan Soybeans farmers
Michigan soybean prices reached $12.3 per bushel in July 2026, sitting $0.70 above the national average of $11.6 per bushel for the same month. That premium over the US figure is best understood through state-level basis factors — primarily local elevator competition and regional transportation costs to export terminals or processing facilities — rather than any difference in crop quality. Looking at the broader revenue picture, Michigan's current marketing-year-average price of $10.9 per bushel represents a $0.40 improvement over the prior year's finalized MYA of $10.5 per bushel, a meaningful step up that reflects tighter national supplies and improved export demand across the 2025–26 marketing year.
When it comes to marketing decisions, the July monthly print of $12.3 per bushel can be a useful reference point for evaluating whether a forward contract or basis agreement offered by a local elevator represents fair value at a specific moment, but it should not anchor your full-season revenue expectations. Monthly prices fluctuate considerably, as the six-month trend from $10.8 in January to $12.3 in July clearly illustrates, and locking in a large forward contract based solely on a single month's high can leave producers overexposed if basis weakens or deferred contracts settle lower. The marketing-year-average of $10.9 per bushel — preliminary as it may still be — is the figure that belongs in your annual cash flow budget and break-even analysis, because it smooths out those month-to-month swings and reflects the blended price a producer is likely to receive across the full range of sales from harvest through the following summer.
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Frequently asked questions — Michigan Soybeans price
Why is the Michigan soybean price of $12.3/bushel higher than the US average of $11.6/bushel in July 2026?
Michigan soybean prices carry a positive basis of $0.70/bushel above the US average, reflecting the state's proximity to crush facilities, export terminals on the Great Lakes, and local supply-demand dynamics. Regional transportation costs, processor demand, and local inventory levels all influence this premium, meaning Michigan growers may capture stronger returns than producers in more basis-challenged regions.
What is the difference between Michigan's July 2026 soybean price of $12.3/bushel and the marketing-year-average (MYA) price of $10.9/bushel?
The July 2026 monthly price of $12.3/bushel represents the average price received by Michigan soybean farmers during that single month, while the MYA price of $10.9/bushel is the weighted average across all months of the full marketing year, reflecting the blend of prices received across different sales windows. The $1.40/bushel difference highlights how summer marketing can outperform the full-season average, underscoring the value of strategic timing when forward contracting or storing grain.
How frequently does USDA update Michigan soybean price data, and where does this data originate?
USDA's National Agricultural Statistics Service (NASS) releases monthly state-level soybean price data through its Agricultural Prices report, typically published near the end of each month for the prior month's prices. The final marketing-year-average price is confirmed after the marketing year closes, so growers and agronomists should treat in-season MYA estimates as preliminary until USDA issues its final reconciliation.
How can I use Michigan's soybean price data alongside yield estimates to project gross revenue per acre?
To estimate gross revenue, multiply your expected or actual yield in bushels per acre by the relevant price—for example, a Michigan yield of 50 bu/acre at the July 2026 price of $12.3/bushel projects to $615/acre, while using the MYA of $10.9/bushel yields $545/acre, a $70/acre difference. Comparing these scenarios helps you evaluate the financial impact of early sales versus storage strategies, and pairing local county yield data with the state price provides a realistic revenue baseline for input cost recovery and loan repayment planning.