# The Markets Are Fluctuating Along With The Weather

> Soybean futures rallied in May after funds cut short positions by 100,000 contracts amid flooding in Rio Grande do Sul that damaged about 3 million tons. U.S. crush has slowed, and exports are at a 19-year low as South America's record crop competes.

- Date: 2024-05-23 · published 2024-05-23T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/30296-the-markets-are-fluctuating-along-with-the-weather
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Brazilian flood damage supports prices short term, but weak crush margins and low exports weigh on the outlook for U.S. soybean meal and beans.

## Read by commodity

- SBM: neutral
- SOY: bullish ▲

## Sources

- iasoybeans.com: https://www.iasoybeans.com/newsroom/article/soybean-markets-and-the-weather-whats-going-on

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