The Iowa Soybean Association (ISA) expects the recent rally in soybean prices to continue. Since the beginning of March, prices have risen nearly $2 per bushel, with another recent bump after the U.S. Department of Agriculture released its World Agricultural Supply and Demand Estimates. The report cites weather issues in South America as a catalyst for supply concerns, which would drive more demand for U.S. soybeans. In addition to the dry conditions in Brazil and flooding in Argentina, experts also cite strong demand from China as a factor in the increased prices. ISA Market Development Director, Grant Kimberley, says the current USDA crop projections of $8.35 to $9.85 per bushel are significantly lower than new-crop prices.
