“Prices turned lower across the board after seeing two-sided trade overnight. Beans were down 12-14 cents, meal was $2-$3 lower, while oil was off 65 points. Spreads were mixed with beans weaker, oil a bit firmer while meal was steady,” Soderberg said. “July ’25 beans closed below its 100-day MA support at $10.50. Next support is the May low at $10.36 ½. July ’25 meal remains stuck between $290-$300. Next support for July ’25 oil is LW’s low at 47.95. Spot board crush margins improved a penny to $1.35½ bu. with bean oil PV slipping back to 45.4%. New crop crush margins remain considerably higher at $1.75½ bu. Brazil’s soybean exports in May ’25 are expected to reach just over 14 mmt, down from 14.5 in April-25 however up 4% YOY.”