# Soybeans Up Double Digits to Begin Tuesday

> Soybean futures rose 10 to 15 cents early on July 2, supported by gains in soybean oil. Weekly export inspections fell 13.4% from the prior week but remained above last year, and USDA's Fats & Oils report showed May crush slightly below expectations with soy oil stocks below estimates.

- Date: 2024-07-02 · published 2024-07-02T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/12751-soybeans-up-double-digits-to-begin-tuesday
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A soybean crush below expectations and tighter soy oil stocks point to firm oil and meal supply, supporting prices. Year-to-date exports lagging last year by 16% limit the upside for soybeans.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2024-07-08 | 5 | +10.4% | 2.8 | Soyoil gains lifted soybeans on July 2, and May crush and soyoil stocks came in below expectations, supporting prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-07-24 | [Double Digit Rally for Soy Futures](https://feedsoft.ai/events/11936-double-digit-rally-for-soy-futures.md) | -0.9% | -9.2% |
| SOY | 2026-08-21 | [China more than doubles US soybean imports in July](https://feedsoft.ai/events/14556-china-more-than-doubles-us-soybean-imports-in-july.md) | +2.9% | +6.8% |
| SOY | 2019-02-22 | [China bulks up on U.S. soybeans](https://feedsoft.ai/events/60473-china-bulks-up-on-u-s-soybeans.md) | -1.5% | -0.1% |
| SOY | 2025-01-10 | [Soybeans Post Rally on USDA Data Day](https://feedsoft.ai/events/8105-soybeans-post-rally-on-usda-data-day.md) | +2.7% | +5.8% |
| SOY | 2020-11-09 | [Is the US Out of Soybeans?](https://feedsoft.ai/events/50181-is-the-us-out-of-soybeans.md) | +3.9% | +5.5% |
| SBO | 2023-07-24 | [Double Digit Rally for Soy Futures](https://feedsoft.ai/events/11936-double-digit-rally-for-soy-futures.md) | +3.6% | -1.3% |
| SBO | 2025-01-10 | [Soybeans Post Rally on USDA Data Day](https://feedsoft.ai/events/8105-soybeans-post-rally-on-usda-data-day.md) | +7.6% | +9.6% |
| SBO | 2019-04-01 | [Soybeans](https://feedsoft.ai/events/59695-soybeans.md) | +2.8% | -1.7% |

## Sources

- barchart.com: https://www.barchart.com/story/news/27164007/soybeans-up-double-digits-to-begin-tuesday

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