Soybean prices soar on October WASDE report

The USDA provided their October estimates for the 2016/17 crop season and their projections for the 2017/18 season.

The soybean yield per harvested acre for the 2016/17 crop year was lowered 0.1 bushels per acre. This lowered 2016/17 production by 11 million bushels.  Imports fell by 3 million bushels, exports increased by 4 million, the crush increased by 4 million, and other domestic use increased by 22…