Just caught the soybean market getting hit pretty hard after that Supreme Court ruling on tariffs. Prices are down 2 to 3.5 cents across the board, and honestly the vibe shifted pretty quick once the news dropped. The cash soybean stock was holding at $10.76 1/2 earlier, but you can feel the uncertainty creeping in now that China might have more leverage in trade talks.

What's interesting is the sales data actually looked decent heading into this. Old crop soybean stock bookings came in at 798,216 MT last week, way above what traders were expecting and way up from a year ago. Meal and oil sales were solid too. But none of that seems to matter much when there's policy uncertainty hanging over everything.

Mar 26 soybeans sitting at $11.37 3/4 now, down about 3 1/4 cents. May contracts down 2 1/2 cents. The whole soybean stock situation feels like it's waiting to see what happens next with trade policy. If China gets more room to negotiate, you could see more pressure on prices. Keeping an eye on how this develops.