South Dakota Soybeans Price — USDA NASS Monthly & MYA Data

South Dakota's soybean price sits $0.20/bushel below the national average of $12.1/bushel, a difference commonly referred to as basis, which reflects local supply-demand conditions, transportation costs to Gulf or river export terminals, and regional elevator competition. Landlocked states like South Dakota typically carry a negative basis relative to the national average because hauling soybeans to major export points adds freight costs that are passed back to the producer. Monitoring this state-level basis helps farmers decide whether to sell locally, store, or seek alternative buyers to capture better netback prices.

The August 2026 monthly price of $11.9/bushel represents the average price received by South Dakota farmers during that single month, while the marketing-year-average (MYA) of $9.8/bushel is a weighted average across the entire September-to-August crop marketing year, reflecting all sales made throughout the year. The $2.10/bushel gap between these two figures indicates that late-marketing-year prices are currently stronger than earlier-season sales pulled the annual average down. Farmers and agronomists use the MYA price when calculating total crop revenue for a given harvest year, while the monthly price is more relevant for evaluating current cash sale or forward contract decisions.

USDA's National Agricultural Statistics Service (NASS) publishes state-level soybean prices received monthly as part of the Agricultural Prices report, typically released near the end of each month for the prior month's data. The marketing-year-average price is finalized after the full September-to-August marketing year closes and all monthly observations are weighted by estimated sales volumes. Farmers and agronomists should check for the latest NASS release each month to ensure they are working with the most current benchmark when evaluating pricing decisions.

To estimate gross revenue, multiply your expected or actual soybean yield in bushels per acre by the relevant price—for example, a 50 bu/acre yield at $11.9/bushel produces $595/acre in gross revenue for sales made in August 2026. If you want to project full-season revenue, use the marketing-year-average of $9.8/bushel multiplied by your total harvested yield to reflect the blended return across all sales dates, which gives a $490/acre gross at 50 bu/acre. Comparing both scenarios helps you assess the financial impact of your storage and marketing timing strategy versus simply averaging your price across the marketing year.