Soybean prices experienced losses on Monday, with nearby futures dropping 2 to 4 cents, and the cmdtyView national average cash bean price falling 3 1/4 cents to $10.69. Soymeal futures decreased by $1 to $2.50, while soy oil futures rose by 47 to 61 points. The USDA reported soybean export shipments at 669,865 metric tons (24.61 million bushels) for the week ending February 19, a decrease of 44.9% from the previous week and down 23.8% compared to the same week last year.
The Supreme Court ruled that the President cannot use the International Emergency Economic Powers Act for tariff purposes. In response, President Trump announced a 10% blanket tariff under sections 122 of the 1974 Trade Act, set to expire after 150 days, with a planned increase to 15% over the weekend. Meanwhile, AgRural estimates the Brazilian soybean crop to be 30% harvested, lagging behind last year’s pace of 39% for the same period.
