Soybean futures are down 17 to 18 cents in most contracts on Monday, with the national average cash bean price falling 16 and three-quarter cents to ten dollars sixty-three and three-quarter cents. Soymeal futures are down two dollars ten to four dollars twenty, while soy oil futures dropped 213 points in the July contract. The USDA reported a private export sale of 136,000 metric tons of soybeans to unknown destinations. Export shipments for the week ending June 25 totaled 419,124 metric tons, up 54 percent from the prior week and 76.7 percent above the same week last year, with Mexico, Japan, and China as top destinations. Analysts surveyed by Bloomberg expect the USDA's June Acreage report on Tuesday to show 85.2 million soybean acres planted this spring.
Futures prices falling ahead of USDA report, with expected high acreage indicating ample supply.
Soymeal futures down alongside soybeans, reflecting lower input costs and supply expectations.
Soy oil futures dropped 213 points, following soybean price decline on supply outlook.