CBOT soybean futures fell more than 2%, with the core driver behind this decline being a shift in weather expectations. Forecasts indicate that the U.S. Midwest will receive widespread rainfall this weekend, which is critical for soybeans currently in their key pod-filling stage. The weather premium built up from earlier high temperatures and drought conditions has been rapidly squeezed out. At the same time, easing U.S.-Iran tensions have alleviated concerns over shipping in the Strait of Hormuz, triggering a sharp pullback in international crude oil prices. This, in turn, dampened expectations for biofuel demand, adding additional downward pressure on soybeans from the vegetable oil side. On the export front, U.S. soybean export inspections for the week ending July 23 fell 18% year-on-year, with cumulative exports for the current marketing year down 17.5% year-on-year. Brazil's continued price advantage is steadily eroding U.S. soybean export market share.