# Soy: flooding in Brazil, difficult growing conditions

> Soybean futures gained 33.75 cents to 1,248.75 cents/bu in the July contract and soybean meal rose 15.40 to 387.60 USD/short ton. Flooding in key Brazilian growing areas and drought in parts of the US Midwest drove the gains, and US export shipments recovered but trail last year.

- Date: 2024-05-07 · published 2024-05-07T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/6448-soy-flooding-in-brazil-difficult-growing-conditions
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Brazilian flooding and US dryness reduce expected soybean and meal supply, pushing feed protein costs higher. Lagging US export pace limits the offset.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2024-05-08 | 5 | +7.0% | 2.9 | Brazil flooding and US Midwest dryness lifted July soybeans 33.75 cents and soybean meal $15.40/st on May 7, directly driving the 5-day gain in meal. |
| SBM | 2024-05-06 | 1 | +4.3% | 5.0 | It reports soymeal up 15.40 on Brazilian flooding and US drought; the dating (May 7) suggests it may describe the May 6 move or a continuation, so it is likely the same supply-shock driver. |
| SBM | 2024-05-06 | 5 | +9.0% | 3.3 | Meal rose $15.40 on Brazil flooding and US dryness, confirming the weather-driven rally. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-04-08 | [Corn Growing Conditions Worsen in Brazil](https://feedsoft.ai/events/13575-corn-growing-conditions-worsen-in-brazil.md) | -0.9% | +1.4% |
| SOY | 2022-12-26 | [Dry Conditions Slow Soybean Planting in Rio Grande do Sul, Brazil](https://feedsoft.ai/events/13684-dry-conditions-slow-soybean-planting-in-rio-grande-do-sul-brazil.md) | +0.6% | +1.6% |
| SOY | 2023-10-23 | [Brazil Soybean Planting Slows as Dry Conditions Spread](https://feedsoft.ai/events/13619-brazil-soybean-planting-slows-as-dry-conditions-spread.md) | -0.4% | +2.9% |
| SOY | 2019-09-14 | [Meteorologist is watching dry conditions in Brazil - Brownfield Ag News](https://feedsoft.ai/events/56902-meteorologist-is-watching-dry-conditions-in-brazil-brownfield-ag-news.md) | -0.2% | +5.8% |
| SOY | 2023-11-20 | [2023/24 Brazil Soybeans 61% Planted, Slowed by Dry Conditions](https://feedsoft.ai/events/13616-2023-24-brazil-soybeans-61-planted-slowed-by-dry-conditions.md) | -0.8% | -1.0% |
| SBM | 2024-04-08 | [Corn Growing Conditions Worsen in Brazil](https://feedsoft.ai/events/13575-corn-growing-conditions-worsen-in-brazil.md) | +2.6% | +8.7% |
| SBM | 2023-10-23 | [Brazil Soybean Planting Slows as Dry Conditions Spread](https://feedsoft.ai/events/13619-brazil-soybean-planting-slows-as-dry-conditions-spread.md) | +5.2% | +9.2% |
| SBM | 2021-09-24 | [Changing Soybean Conditions](https://feedsoft.ai/events/44905-changing-soybean-conditions.md) | -2.5% | -3.2% |

## Sources

- zmp.de: https://www.zmp.de/en/futures/grains/news/newsticker-soy-flooding-brazil-difficult-growing-conditions-usa-2024-05-07

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