# Ahead of the Open | May 2, 2024 - Pro Farmer

> Pro Farmer expected grain and soybean futures to open higher on May 2, 2024, following overnight strength. Heavy rain in the central US was delaying planting, and wet weather was forecast to persist for 7 to 10 days. Ukrainian wheat and corn exports were also projected to fall about 25% in 2024-25 on smaller plantings.

- Date: 2024-05-02 · published 2024-05-02T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5412-ahead-of-the-open-may-2-2024-pro-farmer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Planting delays in the US and reduced Ukrainian export supplies tighten global grain balances and support corn and wheat prices. Feed buyers face higher costs for corn and other grain-based feed ingredients.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-01-04 | [Ahead of the Open \| January 4, 2022 - Pro Farmer](https://feedsoft.ai/events/5775-ahead-of-the-open-january-4-2022-pro-farmer.md) | +3.4% | +5.7% |
| CORN | 2022-07-29 | [After the Bell \| July 29, 2022 - Pro Farmer](https://feedsoft.ai/events/8746-after-the-bell-july-29-2022-pro-farmer.md) | +2.4% | +3.2% |
| CORN | 2022-02-01 | [After the Bell \| February 1, 2022 - Pro Farmer](https://feedsoft.ai/events/12635-after-the-bell-february-1-2022-pro-farmer.md) | +1.8% | +11.1% |
| CORN | 2022-12-28 | [After the Bell \| December 28, 2022 - Pro Farmer](https://feedsoft.ai/events/7012-after-the-bell-december-28-2022-pro-farmer.md) | +0.1% | -0.4% |
| CORN | 2024-10-21 | [Market Snapshot \| October 21, 2024 - Pro Farmer](https://feedsoft.ai/events/11151-market-snapshot-october-21-2024-pro-farmer.md) | +1.5% | +2.5% |
| SOY | 2023-10-24 | [Ahead of the Open \| October 24, 2023 - Pro Farmer](https://feedsoft.ai/events/10316-ahead-of-the-open-october-24-2023-pro-farmer.md) | -0.3% | +6.3% |
| SOY | 2022-01-04 | [Ahead of the Open \| January 4, 2022 - Pro Farmer](https://feedsoft.ai/events/5775-ahead-of-the-open-january-4-2022-pro-farmer.md) | +2.3% | +13.7% |
| SOY | 2022-07-29 | [After the Bell \| July 29, 2022 - Pro Farmer](https://feedsoft.ai/events/8746-after-the-bell-july-29-2022-pro-farmer.md) | +0.4% | -3.5% |

## Sources

- profarmer.com: https://www.profarmer.com/news/agriculture-news/ahead-open-may-2-2024

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