In a meeting held in Sweden, the U.S. and China agreed to extend the tariff deadline from August 12 by 90 days, pending approval from President Trump. This move aims to ease trade tensions between the two nations.

According to USDA’s Monday afternoon Crop Progress report, 76% of the U.S. soybean crop was blooming, with 41% setting pods. Crop condition ratings improved by 2% to 70% good/excellent, while the Brugler500 index rose 5 points to 378. Several fringe states saw declines, with Minnesota down 4 points. Illinois was up 8, Nebraska up 7, Indiana and Iowa up 2, and Ohio and South Dakota up 4 points each.

According to ANCE, Brazil’s July soybean export estimate is 12.05 MMT, down 0.06 MMT from the previous estimate but higher than last year’s 11.25 MMT.