# Soy Meal Leading Soy Complex Charge on Thursday - IBest Media

> Soybeans and soymeal rallied midday on May 2, with meal leading gains and soyoil firmer. Export sales showed 414,000 MT of beans sold for the week ending April 25, with Egypt the top buyer. March Census data showed record monthly meal exports and a 12-year high in shipments to China, while USDA's March crush came in slightly below estimates.

- Date: 2024-05-02 · published 2024-05-02T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/9327-soy-meal-leading-soy-complex-charge-on-thursday-ibest-media
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Strong meal exports and China buying support soybean and meal demand. The crush shortfall versus estimates and modest new-crop bookings temper the rally.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2024-05-06 | 5 | +9.0% | 3.3 | Meal led the soy complex higher on record meal exports and strong demand to China. |
| SBM | 2024-05-05 | 1 | +3.2% | 3.1 | Meal led the soy complex rally on May 2 with record meal exports, indicating strong demand. |
| SOY | 2024-05-05 | 5 | +7.8% | 3.1 | May 2 soy rally led by meal, with record meal exports and strong China shipments underpinning demand. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-01-12 | [Corn and Soy Complex Surge on Bullish USDA Stocks and Production Data](https://feedsoft.ai/events/37730-corn-and-soy-complex-surge-on-bullish-usda-stocks-and-production-data.md) | -0.0% | +0.3% |
| SOY | 2026-08-18 | [Soy demand rises to meet large crop](https://feedsoft.ai/events/17987-soy-demand-rises-to-meet-large-crop.md) | +1.2% | +9.8% |
| SOY | 2017-06-19 | [China 2017/18 soybean imports soar \| Agrifish  \| POST Online Media](https://feedsoft.ai/events/70483-china-2017-18-soybean-imports-soar-agrifish-post-online-media.md) | -3.7% | +4.9% |
| SOY | 2021-11-12 | [Soybean complex takes the lead after WASDE yield surprise - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/7047-soybean-complex-takes-the-lead-after-wasde-yield-surprise-agweek-1-source-for.md) | +4.4% | +4.6% |
| SOY | 2024-03-25 | [USDA boosts soy view on biofuel policy changes \| Latest Market News](https://feedsoft.ai/events/15227-usda-boosts-soy-view-on-biofuel-policy-changes-latest-market-news.md) | -0.6% | -2.6% |
| SBM | 2023-01-12 | [Corn and Soy Complex Surge on Bullish USDA Stocks and Production Data](https://feedsoft.ai/events/37730-corn-and-soy-complex-surge-on-bullish-usda-stocks-and-production-data.md) | -4.3% | -4.2% |
| SBM | 2026-08-18 | [Soy demand rises to meet large crop](https://feedsoft.ai/events/17987-soy-demand-rises-to-meet-large-crop.md) | +3.4% | +12.3% |
| SBM | 2017-06-19 | [China 2017/18 soybean imports soar \| Agrifish  \| POST Online Media](https://feedsoft.ai/events/70483-china-2017-18-soybean-imports-soar-agrifish-post-online-media.md) | -2.4% | +6.9% |

## Sources

- ibestmedia.com: https://www.ibestmedia.com/post/24902.html
- ibestmedia.com: https://www.ibestmedia.com/post/24962.html

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