Soybean Prices Surge as South American Outlook Deteriorates

U.S. soybean prices have surged in recent months amid shrinking forecasts for South American crops.

Prices for soybeans—the base ingredient in many food products, poultry and livestock feed and renewable fuel, among other things—are edging back toward highs reached last year, which hadn’t previously been seen in a decade. Abnormally dry weather in South America that has spurred surges in coffee and sugar prices also has affected soybeans there, and U.S. farmers are poised to take advantage by planting more this year. 

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