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CBoT soybean futures traded modestly higher on November 2, with January 2027 near 1,235 US cents/bu and November 2026 near 1,225. Physical FOB quotations in the US, Ukraine and India softened over the last two weeks, while Chinese prices were firmer.
Nearby futures sit roughly 6-7% below September's monthly average.
Crude oil backwardation limits biofuel-driven support for vegetable oils, which keeps soybean gains restrained. Solid US export sales and Brazilian planting progress point to a sideways-to-firm futures structure.
commodity-board.comNov 2, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
