“$10 per bushel is not out of the question in the coming 30-60 days.”

According to the WASDE report, soybean exports were increased by 15 million bushels to reflect China’s need for the crop.
Agostino said Mother Nature may also play into the upswing in soybean prices.
“The markets also seem to be adding a weather risk premium as we embark on another growing season,” he said.
The WASDE report estimates 82.7 million acres of U.S. soybeans have been planted and 81.8 million acres have been harvested at average yield of 48 bushels/acre; meaning if soybeans hit $10/bushel, each soybean acre could be worth nearly $500.
Looking at corn, the USDA estimated the season-average farm price to be about $3.55 per bushel; and wheat could see anywhere from $4.90 to $5.00 per bushel.
The next WASDE report will be released May 10.