# Wkly Futures Mkt Summary July 22.24 - ADM Investor Services

> ADM Investor Services says soybeans opened the week higher on forecasts of renewed heat in the Midwest for early August, when beans set pods. December soymeal fell $75.60 per ton from May highs and is near key support. Corn prices strengthened on heat forecasts, and the EU cut its 2024 corn yield estimate to 7.24 tonnes per hectare.

- Date: 2024-07-22 · published 2024-07-22T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/12834-wkly-futures-mkt-summary-july-22-24-adm-investor-services
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Midwest heat in August poses a yield risk for soybeans, and the EU corn cut supports global corn demand for US exports, both supportive of prices.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-10-07 | [Black Sea Futures at All-Time Highs - ADM Investor Services](https://feedsoft.ai/events/12137-black-sea-futures-at-all-time-highs-adm-investor-services.md) | 0.0% | +1.4% |
| SOY | 2023-10-31 | [Ag Market View for Oct 31.23 - ADM Investor Services](https://feedsoft.ai/events/33644-ag-market-view-for-oct-31-23-adm-investor-services.md) | +4.5% | +5.0% |
| SOY | 2021-04-26 | [Corn futures jump to a 7-year high on supply concerns](https://feedsoft.ai/events/9399-corn-futures-jump-to-a-7-year-high-on-supply-concerns.md) | +2.0% | -0.9% |
| SOY | 2019-05-29 | [Corn futures gain 15% in May as soft commodities rally on Midwest flooding](https://feedsoft.ai/events/5440-corn-futures-gain-15-in-may-as-soft-commodities-rally-on-midwest-flooding.md) | +3.0% | +5.5% |
| SOY | 2018-03-01 | [U.S. grains: Wheat, soybean futures rally - Manitoba Co-operator](https://feedsoft.ai/events/12431-u-s-grains-wheat-soybean-futures-rally-manitoba-co-operator.md) | +1.0% | -2.6% |
| SBM | 2024-07-29 | [Wkly Futures Mkt Summary July 29.24 - ADM Investor Services](https://feedsoft.ai/events/6828-wkly-futures-mkt-summary-july-29-24-adm-investor-services.md) | +1.8% | -11.6% |
| SBM | 2023-10-31 | [Ag Market View for Oct 31.23 - ADM Investor Services](https://feedsoft.ai/events/33644-ag-market-view-for-oct-31-23-adm-investor-services.md) | +2.8% | +5.9% |
| SBM | 2017-06-09 | [DDG Prices Driven Higher by Rise in Corn Futures](https://feedsoft.ai/events/70594-ddg-prices-driven-higher-by-rise-in-corn-futures.md) | -1.8% | +7.3% |

## Sources

- admis.com: https://www.admis.com/wkly-futures-mkt-summary-july-22-24/

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