“Soybean prices flipped to close moderately higher on reports from cash connected sources that China’s Sinograin has inquired about U.S. soybeans for late 2026, early 2027 shipment. As we mentioned in this morning’s comments, U.S. FOB offers have slipped to a slight discount to Brazil. July meal traded to a 4½ month low however held support above $300 before recovering. Despite the weakness, July oil held above yesterday’s low. Crush margins were pounded, down $.21 to $3.42 ½ with bean oil PV slipping to 54.5%. For now, Chinese interest will likely be limited to state owned entities given the 10% reciprocal tariff on US imports,” Soderberg said.