Soybean futures surpassed $10.10 per bushel on Friday as investors processed the latest WASDE report and ongoing concerns about weather conditions in South America. The report indicated a reduction in U.S. soybean production for the 2024/25 season, now projected at 4.4 billion bushels, down by 95 million bushels from the prior estimate, primarily due to lower yields in key states. Although imports are slightly higher and exports and crush levels remain steady, U.S. ending stocks are expected to fall to 380 million bushels. Globally, oilseed production is also forecast to decline, mainly due to decreased rapeseed and soybean outputs in several countries, though sunflower seed and cottonseed production are on the rise. Global soybean crush is expected to increase, driven by strong demand, particularly from Brazil, while global soybean ending stocks are predicted to drop by 3.5 million tons, primarily due to reduced inventories in the U.S. and Brazil.