# November Soybean Futures Continue to Climb Higher - AgWeb

> November soybeans rose 7.25 cents to $13.78, their highest close since February, after Russia suspended its participation in the Black Sea grain deal. June NOPA crush came in at 165.0 million bushels, below the 170.6 million expected, and soyoil stocks fell to a seven-month low. August soymeal rallied to $434.4.

- Date: 2023-07-17 · published 2023-07-17T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/35114-november-soybean-futures-continue-to-climb-higher-agweb
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Black Sea tension lifts grain and oilseed values, and the crush miss plus low soyoil stocks tighten the oil side. Meal gained on implied tightness, supporting feed costs.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-10-23 | [Soybean, corn futures touch 1-month highs as crude oil soars — TradingView News](https://feedsoft.ai/events/22424-soybean-corn-futures-touch-1-month-highs-as-crude-oil-soars-tradingview-news.md) | +4.4% | +9.8% |
| SOY | 2022-04-22 | [Winds Of War, Drought Push New-Crop Corn, Soybean Prices Higher](https://feedsoft.ai/events/13368-winds-of-war-drought-push-new-crop-corn-soybean-prices-higher.md) | -2.4% | -3.3% |
| SOY | 2022-03-04 | [How strength in soybean prices is linked to the Black Sea conflict](https://feedsoft.ai/events/12630-how-strength-in-soybean-prices-is-linked-to-the-black-sea-conflict.md) | +1.2% | -3.7% |
| SOY | 2023-07-20 | [Palm oil futures hit four-month high as Black Sea tensions escalate](https://feedsoft.ai/events/11938-palm-oil-futures-hit-four-month-high-as-black-sea-tensions-escalate.md) | +3.7% | -10.5% |
| SOY | 2026-07-20 | [Wheat Climbs on Black Sea Risk, Soybeans Firm as China Returns](https://feedsoft.ai/events/9563-wheat-climbs-on-black-sea-risk-soybeans-firm-as-china-returns.md) | +3.6% | -2.6% |
| SBM | 2022-03-04 | [How strength in soybean prices is linked to the Black Sea conflict](https://feedsoft.ai/events/12630-how-strength-in-soybean-prices-is-linked-to-the-black-sea-conflict.md) | +8.6% | +1.6% |
| SBM | 2026-09-07 | [SunSirs: Soybean Meal Futures Strengthen on Mixed Bullish Factors of China, Watch for Correction Risks](https://feedsoft.ai/events/17558-sunsirs-soybean-meal-futures-strengthen-on-mixed-bullish-factors-of-china-watch.md) | +0.8% | +0.7% |
| SBM | 2022-04-20 | [Higher Animal Feed Costs Lift EU Meat Prices \| CZ app](https://feedsoft.ai/events/41975-higher-animal-feed-costs-lift-eu-meat-prices-cz-app.md) | -4.0% | -11.4% |

## Sources

- agweb.com: https://www.agweb.com/markets/pro-farmer-analysis/november-soybean-futures-continue-climb-higher

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