# Soybeans with Double Digit Overnight Gains - IBest Media

> Soybeans closed higher on May 3 after meal gains of $8 to $15.90 per ton on Thursday. Flooding in southern Brazil, where Rio Grande do Sul was only 66% harvested, was cited as a bullish factor. StoneX kept its Brazil soybean estimate at 150.8 million tonnes.

- Date: 2024-05-03 · published 2024-05-03T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/9328-soybeans-with-double-digit-overnight-gains-ibest-media
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Flood-related harvest delays in southern Brazil can slow supply arrival and raise export competition concerns, supporting soybeans and meal. The impact is limited unless losses or delays become substantial.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2024-05-06 | 5 | +9.0% | 3.3 | Meal gained $8-15.90/ton on southern Brazil flooding with Rio Grande do Sul only 66% harvested, a supply concern fueling the rally. |
| SOY | 2024-05-05 | 5 | +7.8% | 3.1 | May 3 gains in soybeans and meal on Rio Grande do Sul flooding (only 66% harvested) cut expected Brazilian supply, a direct driver within the 5-day window. |
| SBM | 2024-05-05 | 1 | +3.2% | 3.1 | May 3 meal gains of $8 to $15.90/ton on Rio Grande do Sul flooding (only 66% harvested) directly lifted soybean meal into the move window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-01-22 | [Soybeans Rallies on Tuesday - IBest Media](https://feedsoft.ai/events/11808-soybeans-rallies-on-tuesday-ibest-media.md) | -2.1% | -3.3% |
| SOY | 2023-12-28 | [Soybeans Rally to Close in the Black - IBest Media](https://feedsoft.ai/events/11439-soybeans-rally-to-close-in-the-black-ibest-media.md) | -4.2% | -8.2% |
| SOY | 2026-02-25 | [Soybeans Rally with the Help of Meal](https://feedsoft.ai/events/5500-soybeans-rally-with-the-help-of-meal.md) | +1.4% | +1.4% |
| SOY | 2022-12-07 | [Soybeans, meal extend gains, with corn, wheat higher - Brownfield Ag News](https://feedsoft.ai/events/38367-soybeans-meal-extend-gains-with-corn-wheat-higher-brownfield-ag-news.md) | +1.7% | +0.8% |
| SOY | 2022-01-05 | [U.S. grains: Soybeans up with session peak highest since July - AgCanada](https://feedsoft.ai/events/5774-u-s-grains-soybeans-up-with-session-peak-highest-since-july-agcanada.md) | -0.1% | +12.1% |
| SBM | 2025-01-22 | [Soybeans Rallies on Tuesday - IBest Media](https://feedsoft.ai/events/11808-soybeans-rallies-on-tuesday-ibest-media.md) | -2.4% | -4.7% |
| SBM | 2026-02-25 | [Soybeans Rally with the Help of Meal](https://feedsoft.ai/events/5500-soybeans-rally-with-the-help-of-meal.md) | +0.5% | +4.1% |
| SBM | 2022-12-07 | [Soybeans, meal extend gains, with corn, wheat higher - Brownfield Ag News](https://feedsoft.ai/events/38367-soybeans-meal-extend-gains-with-corn-wheat-higher-brownfield-ag-news.md) | +0.8% | +8.3% |

## Sources

- ibestmedia.com: https://www.ibestmedia.com/post/25042.html

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