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Soybeans
Wednesday’s Recap
July Soybean futures settled at 1023’4 Wednesday, gaining 19’4 (1.94%). Overall volume was a heavy 536,668, with the July maturity seeing 175,037 done. Across all maturities, open interest fell by 16,498, or 1.90%, to end the session with 852,187 outstanding. The July maturity increased 4.12% (16,498) to finish at 290,927.
Technicals
May soybeans made it back to the breakdown point from last week and are working to close the gap from April 3rd. The big resistance pocket to keep an eye on for today’s trade comes in from 1028-1031 1/2. A move out above there and we could see more upside potential with the next target coming in near 1040.
Technical Levels of Importance
Resistance: 1008-1013**,1028-1031 1/2***, 1036 1/2-1042****
Pivot: 991-995 3/4
Support: 969-970 1/2***, 955 1/2***
Popular Options
Option trading centered around the May 1020 calls with 4,959 traded and the June 940 puts with volume of 7,860. Calls with the highest open interest are the July 1040 strike (16,880), and for the puts are the Nov 900 strike (25,014).
Volatility Update
Implied Volatility closed the day sharply lower with SVL down 2.5, to finish the session at 18.75. Higher by 1.11% to a one month high, historical volatility (as measured by the 30-day) ended at 18.97%. The SVL Skew finished slightly higher, adding 0.94 to end the day at -0.09.
Seasonal Tendencies Update
(Updated on 4.7.25)
Below is a look at historical price averages for July soybean futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).
Want to Read the full article with Charts? Check out the full article here: Â https://bluelinefutures.com/2025/04/10/grains-firm-ahead-if-wasde-report/Â
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