Soybean prices slipped 2 to 7 cents midday Monday, with 4 deliveries for July futures. Cash bean price down 4 ½ cents at $9.59 1/4. Soymeal futures down $2.60/ton, Soy Oil up 31 points. 198 delivery notices for July soybean meal.

President Trump announced 30% tariffs on EU and Mexico starting August 1. Threatened Russia with secondary tariffs if no deal to end Russian/Ukraine war in 50 days.

USDA reported soybean export shipments at 147,045 MMT during the week ending July 10, down 63.2% from last week. Mexico largest buyer at 32,507 MT. Marketing year exports at 46.411 MMT, up 10.4% from last year.

Rains expected to be widespread next week with much of the Corn Belt getting at least an inch, Central Corn Belt may see 2-3 inches.

Weekly CFTC data shows managed money in soybean futures/ options are net short 6,216 contracts. Commercials trimmed net short position to 110,199 contracts as of July 8th.

Chinese soybean imports reached June record of 12.26 MMT, slightly lower than May’s 13.92 MMT.

Soybean prices on Jul 25: $9.97, down 7 cents. Nearby Cash: $9.59 1/4, down 4 1/2 cents. Aug 25: $9.99 1/4, down 5 cents. Nov 25: $10.06 1/2, down 3/4 cent. New Crop Cash: $9.56 3/4, down 2 cents.

Read more at Yahoo Finance: Soybeans Slipping into Midday