Capturing a great price for any commodity you produce isn't easy. A range of factors can impact the decision to sell, or the availability of a great price. The good news is that often when solid profitable price is out there, growers can pull the trigger on the sale.

Last time out, the Farm Progress PANEL asked about the best price you got for corn, so it only made sense for us to ask the other question – how did you do with soybeans? Short answer? On the whole, respondents have captured some nice prices. Of course we didn't distinguish between the price on the Board or local cash price.

On the top end, just 6% say they've captured a soybean price of $18 or higher. It's rare that soybeans have even topped that price, so these respondents moved fast when they saw this opportunity.

But nearly a third of respondents did just fine in the next range, reporting they captured a price between $16 and $17.99. That's money in the bank, or in some cases a new tractor, combine, or perhaps a kitchen remodel. And of course debt reduction too.

In the next range - $14 to $15.99 – 38% report capturing that price. That too is a solid profit provided yields were where you wanted them. And this year, that price range appeared again. We didn't ask when respondents captured these prices, but we're sure many are watching the market closely.

In the next range, $12 to $13.99, less than a fifth report this as their top price. This is still in a profitable range for many. And we're sure this group is watching their local cash price closely this season.

Finally just over a tenth of respondents report that they've not captured prices as high as the ranges we've offered. It happens, a lot of factors come into play when it comes to pulling the trigger on a sale. Given where market prices are this season, perhaps this group can move up the ladder and join the higher-price group on the Farm Progress PANEL.

Thanks to everyone who responded to these PANEL questions.

Be a part of the PANEL

The Farm Progress PANEL is your chance to share your thoughts on key issues. To take part, start by signing up for our daily mobile text service Farm Progress NOW, we noted above. Later in one of our daily texts we'll provide information about how to sign up for the PANEL. And thanks to the respondents for helping us out.