Soybean prices fell by 9 to 10 cents on Monday, with the cmdtyView national average new crop cash bean price at $9.60 1/2. Soymeal futures also decreased, ranging from $1.90 to $2.10 lower, while Soy Oil saw an increase of 2 to 6 points at midday.
In the week of July 24, Export Inspections reported a total of 409,714 (15.05 million bushels) of soybeans shipped, reflecting an 8.7% increase from the previous week. Egypt was the primary destination with 154,434 MT, followed by the Netherlands (75,603 MT) and Mexico (72,432 MT). Current marketing year shipments are at 47.2 MMT (1.734 billion bushels), 10.4% higher than the previous year.
Additionally, the U.S. and EU announced a framework for a trade agreement that includes 15% U.S. tariffs on most EU goods and $750 billion in U.S. energy purchases over three years. Meanwhile, the Argentine government reduced export taxes on soybeans from 33% to 26% and on meal and oil from 31% to 24.5%.
