# After the Bell | May 3, 2024 - Pro Farmer

> July corn closed at a three-month high on May 3, 2024, and soybeans rallied 16 cents to $12.15 with soymeal up $7.30. July SRW and HRW wheat also gained on the day, and cotton rose. Weekly gains were posted across corn, soybeans and wheat.

- Date: 2024-05-03 · published 2024-05-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/5416-after-the-bell-may-3-2024-pro-farmer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Broad strength in corn, soybeans and meal raises feed input costs for buyers. Late-week gains in winter wheat suggest continued speculative buying into the following week.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2024-05-05 | 1 | +3.2% | 3.1 | Soymeal closed up $7.30 on May 3, the final trading day of the window, with soybeans rallying. |
| SBM | 2024-05-08 | 5 | +7.0% | 2.9 | Soymeal rose $7.30 and soybeans rallied 16 cents on May 3, adding to the 5-day gain. |
| SBM | 2024-05-06 | 5 | +9.0% | 3.3 | Meal up $7.30 on May 3 as soybeans rallied, part of the 5-day gain. |

## Sources

- profarmer.com: https://www.profarmer.com/news/after-bell/after-bell-may-3-2024

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