Soybean prices above $16 a bushel are not only possible but likely this year if the U.S. experiences anything but optimal growing conditions, said Mike Murphy, vice president of research and risk management at CattleFax.

“More so than many other years, this summer’s weather will have a critical impact on the price of corn and beans,” Murphy said last week during the CattleFax presentation to the National Cattlemen’s Beef Association (NCBA) Winter...