The global soybean market is experiencing significant volatility, with prices dropping 9.5% from their highs on July 3. The U.S. soybean market, in particular, is now considered the world's most oversold commodity, with prices falling below $10.50 per bushel. Speculators are confident that prices will continue to decline due to perfect weather conditions, soft demand, and bearish seasonal trends. Meanwhile, China, the world's largest soybean buyer, is seeing thin sales of soybean meal and oil, despite high inventories. Soymeal stocks in China as of July 12th are at 6 year highs. In Brazil, soybean premiums FOB are strengthening, with spot delivery trading at +400Q.