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Dick L 
Orange Level
Joined: 12 Sep 2009
Location: Edon Ohio
Points: 5082
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 Topic: Bean Prices
Posted: 12 Oct 2019 at 12:12pm |
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Edon Ohio Coop's was paying 8.93 this morning. Some short looking beans were going 60 bushels an acre! I looked at another field of short beans and the pods were closer to gather up the stem than I have ever seen. I wonder how that filed will go.
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Brian F(IL)
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Joined: 14 Sep 2009
Location: Paxton, IL
Points: 2687
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Posted: 14 Oct 2019 at 12:54pm |
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Cash soybean prices are $9.05 at our local co-op in east central Illinois. Unfortunately, yields are only in the 30's. Last year we had 60-70 bu/acre beans, but this year it was a wet, late spring followed by only 1.4" of rain from the end of June until the middle of September.
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Tbone95
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Joined: 31 Aug 2012
Location: Michigan
Points: 11387
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Posted: 15 Oct 2019 at 7:45am |
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Still ~$8.60 here.
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cabinhollow
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Joined: 24 Mar 2018
Location: SEKY
Points: 327
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Posted: 15 Oct 2019 at 10:39am |
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Neighbor sold his for $9.28 this past weekend.
That was after I spent sometime, about as deep as you can get inside the combine, cutting a 2' long pipe out.
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Dick L
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Joined: 12 Sep 2009
Location: Edon Ohio
Points: 5082
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Posted: 15 Oct 2019 at 2:58pm |
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Edon Ohio's little Coop is paying 9.02 this after noon. I think it has been over ten years since I say 9.00 on the sign for beens.
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shameless dude
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Joined: 10 Apr 2017
Location: east NE
Points: 13611
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Posted: 15 Oct 2019 at 5:55pm |
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$8.95 here, most new beans are testing 11%-13% moisture, most stems are still on the green side
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Tbone95
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Joined: 31 Aug 2012
Location: Michigan
Points: 11387
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Posted: 16 Oct 2019 at 7:08am |
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Michigan sucks. We get less yield and lower prices apparently. On the news that a trade deal is close, beans down to $8.58. That's worse than last year.
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DMiller
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Joined: 14 Sep 2009
Location: Hermann, Mo
Points: 29407
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Posted: 16 Oct 2019 at 9:11am |
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Price on the signs generally does not reflect price on receipts, Dirt, weed seeds, bulk organic residue, higher than required moisture content or split beans all bring the price down.
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Tbone95
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Joined: 31 Aug 2012
Location: Michigan
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Posted: 16 Oct 2019 at 9:44am |
 DMiller wrote:
Price on the signs generally does not reflect price on receipts, Dirt, weed seeds, bulk organic residue, higher than required moisture content or split beans all bring the price down. |
Well sure. But since we’re all talking advertised cash prices, we’re all talking apples to apples. No other way to compare across areas.
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Tbone95
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Location: Michigan
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Posted: 16 Oct 2019 at 9:46am |
And technically, all of the dockages dock bushels, not dollars 
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jaybmiller
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Joined: 12 Sep 2009
Location: Greensville,Ont
Points: 21428
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Posted: 16 Oct 2019 at 10:05am |
OK, since I don't truly farm.... how many bushel per acre is normal an djust what IS the profit per bushel ? Obviously there's a lot of 'input costs', like seed,fuel,etc. so I'm curious...and it's raining cats,dogs and giraffes here...
Jay
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3 D-14s,A-C forklift, B-112
Kubota BX23S lil' TOOT( The Other Orange Tractor)
Never burn your bridges, unless you can walk on water
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Tbone95
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Joined: 31 Aug 2012
Location: Michigan
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Posted: 16 Oct 2019 at 10:56am |
Jay, well as usual, "it depends". Depends greatly on location, the growing season, and the inputs you put in. And, counting what? Land costs included or no? In my area, the county average, which is used for insurance purposes unless and until you establish your own production history is 33 bushels per acre. I typically grow 40 - 45 bushels per acre. 1 time on a 13 acre field about 6 years ago I made 72, the conditions were absolutely perfect I guess as I've never done it since. Last year, my best field I made 42, and with no land or equipment costs, the profit after inputs (seed, fertilizer, lime, spray, fuel, insurance) was about $70. Land costs pretty much ate that up. Prices were around $8.70. I struggled big time with moisture. The beans were dry enough at one point, but fog, snow, rain, snow......kept things moist. That was my worst dockage. Splits and foreign material were almost nonexistent. We had a very bad drought last year. . . .right up until we had to harvest! Guys down south easily make 70 bushel. New world record was set this year, 190.23 bu/acre in Georgia.
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steve(ill)
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Joined: 11 Sep 2009
Location: illinois
Points: 77567
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Posted: 16 Oct 2019 at 11:30am |
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jay.. Around our area you can CASH RENT ground for around $200. per acre... So you could say that is "how much you can make per acre"... you do not have cost input for / seeds / fuel / etc.... all you do is pay the property tax.
Edited by steve(ill) - 16 Oct 2019 at 11:32am
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Like them all, but love the "B"s.
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jaybmiller
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Joined: 12 Sep 2009
Location: Greensville,Ont
Points: 21428
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Posted: 16 Oct 2019 at 11:37am |
yeesh WHY do you even plant beans ? Sounds like you make NOTHING by doing it..unless I'm missing something...
Jay
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3 D-14s,A-C forklift, B-112
Kubota BX23S lil' TOOT( The Other Orange Tractor)
Never burn your bridges, unless you can walk on water
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Tbone95
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Joined: 31 Aug 2012
Location: Michigan
Points: 11387
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Posted: 16 Oct 2019 at 1:45pm |
jaybmiller wrote:
yeesh WHY do you even plant beans ? Sounds like you make NOTHING by doing it..unless I'm missing something...
Jay
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Truly owning property and lots of it is the only way.....Now how do you buy that property, and a $400k combine with a $140k header to go with it and get there???? Now, roll the clock back some, beans were ~$12-$14.....fertilizer bit more than current times, but you still had some margin to work with. Heck, I'd be happy in the $10 range....corn isn't much better, just lots more of it to deal with, so ya feel like you're doing something. The guys down south....yeah, their yields are double, but their land costs are triple, at least. It's a hard game to win.
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Tbone95
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Joined: 31 Aug 2012
Location: Michigan
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Posted: 16 Oct 2019 at 1:50pm |
Not exactly proud of it in any way, but last year was the first time I have EVER signed up for ANY USDA program. I signed up for the market facilitation program for soybeans. The subsidy I got essentially became the only profit I had on the bean side of the business. Again, not proud, just a fact of survival. My best field was "new to me farming it" last year. Previous farmer left a chisel plow shank in the field for me, which I found with my rear tire. $1300. Bye-bye profit, but lived to farm another day.
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Tbone95
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Joined: 31 Aug 2012
Location: Michigan
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Posted: 16 Oct 2019 at 3:01pm |
steve(ill) wrote:
jay.. Around our area you can CASH RENT ground for around $200. per acre... So you could say that is "how much you can make per acre"... you do not have cost input for / seeds / fuel / etc.... all you do is pay the property tax.
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Yeah but what fun is that?  Besides, he didn’t ask that, he asked how many bushels per acre and how much profit per bushel You don’t get to say you made bushels when all you do is take in a rent check.
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LouSWPA
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Joined: 11 Sep 2009
Location: Clinton, Pa
Points: 24019
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Posted: 16 Oct 2019 at 3:24pm |
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what's the possibility that if you hold onto your beans, the price may go up? Of course, storage, if even available would add to the costs
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I am still confident of this;
I will see the goodness of the Lord in the land of the living.
Wait for the Lord;
be strong and take heart and wait for the Lord. Ps 27
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Brian F(IL)
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Joined: 14 Sep 2009
Location: Paxton, IL
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Posted: 16 Oct 2019 at 3:38pm |
Lou, to put soybeans in "storage" at our local co-op, the "drop charge" (what the initial storage charge is) is 13 cents/bushel. On top of that they then charge 1/10 cent per bushel per day (or about 3 cents/bushel/month). So, if you put beans into storage today and held them for two months before selling, the price would have to go up 19 cents per bushel versus just selling them today.
There are a few other "rules" but this gives you an idea of the cost of storing versus selling outright. What's your crystal ball tell you to do? Are the markets going up or down? |
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LouSWPA
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Location: Clinton, Pa
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Posted: 16 Oct 2019 at 3:46pm |
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Kinda gives credence to the old adage, "how do you make a fortune farming?" start with a bigger fortune
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I am still confident of this;
I will see the goodness of the Lord in the land of the living.
Wait for the Lord;
be strong and take heart and wait for the Lord. Ps 27
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DMiller
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Joined: 14 Sep 2009
Location: Hermann, Mo
Points: 29407
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Posted: 16 Oct 2019 at 3:57pm |
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Just got a note from cousins in Greenville, Beans came out last week, just before the rains hit, made 50b/a not bad as were looking REAL bad this go round. Corn is still drying down, stalks a little too green to get on the fields and kernels not completely dimpled yet. Maybe two weeks the late planted corn will come out, looking to beat 190b/a to be ahead of the game.
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Tbone95
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Joined: 31 Aug 2012
Location: Michigan
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Posted: 17 Oct 2019 at 7:20am |
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Yields keep going up because the prices keep coming down or stay similar while the cost of everything around you goes up, so you push yields, which drives the price down, so you.....
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jaybmiller
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Joined: 12 Sep 2009
Location: Greensville,Ont
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Posted: 17 Oct 2019 at 8:07am |
Across the street, beans are 120% water ! killer rain 2 days ago, cloudy, cold, since then so I still don't know how you guys survive......
we'd need a week of warm ,sunny, DRY weather before the ground MIGHT get firm enough to LOOK at the beans, let alone harvest them.
you must farm because you love the land.
Jay
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3 D-14s,A-C forklift, B-112
Kubota BX23S lil' TOOT( The Other Orange Tractor)
Never burn your bridges, unless you can walk on water
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