“Prices were sharply mixed with beans up $.04-$.09, meal ranged from $1-$5 lower while oil surged late closing over $.01 ½ – $.02 higher. Bean spreads firmed while product spreads were mostly lower. Delivery registrations are 523 contracts for soybeans, 0 meal and 914 contracts for soybean oil. July-26 beans traded to their highest level in a week while nearing the upper end of its $11.55-$12 range. Nov-26 beans held just below its contract high at $11.74 ¼. New contracts highs in bean oil with the spot contracts soaring to a fresh 3 ½ year high. Support for July-26 meal is at $319.50. After jumping out to new all-time highs in early trade, spot board crush margins finished unchanged at $3.67 ½ bu. while soybean oil PV closed at a new record high at 53.4%. Higher energy costs continue to drive inflation fears as the U.S./Iran conflict remains at a standoff. New contract highs for June-26 WTI crude. So far, the EU has detected six soybean meal shipments testing positive for a non-approved GMO in 2026. Four were from Argentina and two from Brazil. Two of the shipments from Argentina and one from Brazil have been withdrawn. YTD EU meal imports for the 2024/25 MY from Brazil have reached 9.9 mmt while another 6.9 mmt from Argentina and 930k tons from Ukraine. As soybean oil prices have surged, UCO imports from China have become more attractive,” reported Mark Soderberg with ADM Investor Services.