# Soybean Market Update: Futures, FOB Prices and Demand Drivers — CMB News

> 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.

- Date: 2026-11-02 · published 2026-11-02T09:05:48.840Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/75189-soybean-market-update-futures-fob-prices-and-demand-drivers-cmb-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

- SBO: bearish ▼
- SOY: neutral

## Sources

- commodity-board.com: https://commodity-board.com/soybeans-slip-as-crude-oil-backwardation-and-export-demand-pull-in-opposite-directions

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