# US soybean, soymeal futures surge following hurricane damage

> Chicago soybean futures jumped 24.75 cents to $10.65 per bushel on September 27, while October soybean meal rose $19.50 to $343.70 per short ton. December corn gained 4.75 cents to $4.18 per bushel, while December wheat fell 4.25 cents.

- Date: 2024-09-27 · published 2024-09-27T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/28389-us-soybean-soymeal-futures-surge-following-hurricane-damage
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Flooding from Hurricane Helene and dry Brazilian weather raised soybean and meal prices, lifting feed input costs for buyers. Corn gains from Carolinas crop damage add modest support.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2024-09-26 | 1 | +4.7% | 3.3 | Reports October soybean meal futures rose $19.50 to $343.70 per short ton on hurricane-damage concerns, which is the move itself and its main driver. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-12-26 | [US soybean, soybean meal futures surge post-holiday - The Jacobsen](https://feedsoft.ai/events/11399-us-soybean-soybean-meal-futures-surge-post-holiday-the-jacobsen.md) | +2.5% | +8.3% |
| SOY | 2026-01-30 | [Soybean Futures Surge on Strong Meal Demand, Argentina Weather](https://feedsoft.ai/events/21077-soybean-futures-surge-on-strong-meal-demand-argentina-weather.md) | +3.7% | +7.9% |
| SOY | 2018-02-14 | [U.S. grains: Soymeal rally lifts soybean futures - AgCanada](https://feedsoft.ai/events/10004-u-s-grains-soymeal-rally-lifts-soybean-futures-agcanada.md) | +2.2% | +1.7% |
| SOY | 2026-02-25 | [Soybeans Popping Higher, Following Meal Rally](https://feedsoft.ai/events/5501-soybeans-popping-higher-following-meal-rally.md) | +1.4% | +1.4% |
| SOY | 2023-02-14 | [Soybean Meal Futures Rise On Argentina Drought](https://feedsoft.ai/events/37454-soybean-meal-futures-rise-on-argentina-drought.md) | +0.4% | -2.8% |
| SBM | 2024-12-26 | [US soybean, soybean meal futures surge post-holiday - The Jacobsen](https://feedsoft.ai/events/11399-us-soybean-soybean-meal-futures-surge-post-holiday-the-jacobsen.md) | +4.8% | +6.4% |
| SBM | 2026-01-30 | [Soybean Futures Surge on Strong Meal Demand, Argentina Weather](https://feedsoft.ai/events/21077-soybean-futures-surge-on-strong-meal-demand-argentina-weather.md) | +2.0% | +8.8% |
| SBM | 2018-02-14 | [U.S. grains: Soymeal rally lifts soybean futures - AgCanada](https://feedsoft.ai/events/10004-u-s-grains-soymeal-rally-lifts-soybean-futures-agcanada.md) | +3.5% | +0.8% |

## Sources

- thejacobsen.com: https://thejacobsen.com/2024/09/27/us-soybean-soymeal-futures-surge-following-hurricane-damage/

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