Soybean futures were down 2 to 6 cents on Monday, with March prices up 4 ½ cents last week. Soybean sales for old crop increased in the week ending February 12, with 798,216 MT booked, led by China. The US Supreme Court ruled that the President cannot use the IEEPA for tariffs, prompting a risk-off mode in the market. President Trump plans to issue a 10% blanket tariff under sections 122 of the 1974 Trade Act. Meal sales exceeded expectations at 480,937 MT, while bean oil sales were near the top end of projections at 11,134 MT. CFTC data showed an increase in the managed money net long position to 163,611 contracts. AgRural estimates the Brazilian soybean crop at 30% harvested, behind last year’s pace of 39%.

Read more at Yahoo Finance: Soybeans Falling Early on Monday