Soybean futures are down 3 to 5 cents as trade begins on Tuesday. Monday saw a drop of 4 cents, with July contracts expiring. Crop Progress data shows 47% of US soybeans blooming, with ratings at 70%. President Trump threatens Russian with secondary tariffs if the Russian/Ukraine war isn’t resolved in 50 days.

USDA reports soybean export shipments down 63.2% from last week, totaling 147,045 MMT. Mexico was the largest buyer. Rains are expected in the Corn Belt, with 1 to 3 inches forecast. NOPA data will be updated with soybean crush estimates higher than last year.

Soybean prices closed at $9.97 for Jul 25, $10.01 for Aug 25, and $10.07 for Nov 25. Cash prices were $9.61 1/2 for nearby and $9.57 1/4 for new crop. Rains forecasted in Corn Belt. Barchart.com originally published this information.

Read more at Yahoo Finance: Soybeans Losses Continue as Ratings Improve