# Soybean Rally Leads to 4-Month High

> Soybeans closed up 15.75 to 33.75 cents on Monday to reach a four-month high, with July at $12.48-3/4. Soymeal rose $5.40 to $15.40 per ton and soyoil bounced from contract lows. US crop progress showed 25% planted as of May 5, ahead of the five-year average.

- Date: 2024-05-06 · published 2024-05-06T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/11629-soybean-rally-leads-to-4-month-high
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Heavy rain in flooded southern Brazil delays harvest and cuts supply, supporting soybean and meal prices. Planting pace in the US is a counterweight.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2024-05-06 | 5 | +9.0% | 3.3 | Soy futures hit multi-month highs on May 6 on Brazil flood concerns, spilling into meal prices. |

## Sources

- barchart.com: https://www.barchart.com/story/news/26000821/soybean-rally-leads-to-4-month-high

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