“Prices were mixed with beans up $.02-$.03, meal was steady to $1 lower while oil was off 90-140 points. July-26 and Nov-26 beans both traded to 2-week highs before backing up. July-26 oil fell to a 7-week low as speculative traders continue to shed market length. Heavy rains across the Gulf coast in the past 24 hours while moderate rains across the central and N. Midwest. Heavy rain will continue to impact the Gulf coast along with the central and ECB through early next week with lighter amounts for the far WCB. Crush margins were pummeled once again down another $.17 to $3.25 ½ per bu., down nearly $1 from the peak earlier this month. The USDA announced a flash sale of 372k mt (13.6 mil. bu.) to an unknown buyer with 60k for the 25/26 MY and 312k for the 26/27 MY. U.S. FOB offers at the Gulf remain at a slight discount to Brazil while fresh demand from China will likely be limited to state owned entities given the 10% reciprocal tariff on US imports. Tomorrow’s export sales are expected to range from 14-28 mil. bu. of soybeans, 200-600k tons of meal and -2-15k tons of oil. Speculative buying yesterday in soybeans took the MM long position back up to 120k contracts with meal at 56.6k. Selling in soybean oil took their long holdings down to 120k contracts. O.I. in soybeans and meal fell by under 1k contracts for each while in oil it was down just over 5.5k contracts. Anec raised their forecast for Brazilian soybean exports in June to 15.3 mmt, up from their previous forecast of 14.4 mmt.,” reported Mark Soderberg with ADM Investor Services.