# Soybean Prices Rally at the Close | May 2, 2024

> July soybeans and July corn rallied at the close on May 2, 2024, with July soybeans up 29 cents and July corn up 10 cents. Soybeans tested $12 and corn tested its 100-day moving average. Wetter Midwest forecasts raised concerns about the pace of U.S. planting.

- Date: 2024-05-02 · published 2024-05-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/10964-soybean-prices-rally-at-the-close-may-2-2024
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Wetter forecasts that slow planting can cut acreage and raise supply concerns, supporting corn and soybean prices. This is a routine price wrap with no major new supply shock.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Sources

- agriculture.com: https://www.agriculture.com/grain-prices-start-the-day-high-or-may-2-2024-8642380

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.