The soybean prices ended higher this Monday as traders expect supplies to remain tight

The actively traded July contract for soybeans rose 20 cents to settle at $14.85 a bushel.

The U.S government’s weekly prediction for soybean exports was higher than traders expected, said Mike Zulo, president of a consulting company in Atchison Kansas

Supplies for beans have been extraordinarily tight as China’s demand for soybean continues to increase even as U.S production stays relatively steady he said Soybean prices have risen 15 percent this year

“That USDA number caused the trade to refocus on just how razor-thin supplies are heading in to next fall’s harvest” Zulo said

Why did the prices of soybean rise according to the passage?