Soybeans
Monday’s Recap
Monday’s Soybean market was lower with the Nov contract down by 14’0 (1.32%), to 1046’6, a one week low. Across all maturities, a heavy 374,491 contracts changed hands, with 135,400 traded in the Nov maturity. Total open interest decreased by 4,606 (0.54%) to 846,415. Nov gained 11,798, or 3.46%, finishing at 352,795.
Technicals (November)
Those who sold against resistance at the end of last week have so far been rewarded this week. With prices trading back near support it may be a spot to consider protecting that position, or reducing/flattening it. What you decide is probably dependent on if you’re hedging or speculating. Feel free to contact the trade desk to discuss a tailored strategy: 312-278-0500. If the Bulls fail to hold ground from 1033 1/4-1035, the next downside target would be from 1015 1/4-1022.
Technical Levels of Importance
Resistance: 1060-1064***, 1075 3/4-1080***, 1100-1104 1/4****
Pivot: 1040-1041 1/2
Support: 1033 1/4-1035****, 1015 1/4-1022***
Good/Excellent conditions were unchanged from last week, 66%. Analysts were expecting a 1% improvement.
Weekly export inspections at 193k metric tons were below the low end of expectations.
Next weeks quarterly stocks and acreage report is historically one of the bigger reports of the year. The average trading range for November soybean futures on report day over the last 4-years is about 5%
Popular Options
Option volumes were largest for the August 1160 call (2,440) and the June ZS4 1050 put (3,880). Highest volumes in Nov option trading were seen in the 1100 calls (931) and the 980 puts (1,528). Option open interest is largest for the Nov 1200 calls at 26,187, and the Nov 900 puts at 18,627.
Volatility Update
Soybean implied volatility finished sharply lower as SVL decreased 1.4 to end at 18.65, a one week low. The 30-day historical volatility finished up by 0.17% to a one week high of 15.17%. The SVL Skew closed down, off 0.58 to end the day at 2.91, a one week low.
Seasonal Tendencies Update
(Updated on 6.23.25)
Below is a look at historical price averages for November soybean futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).
Commitment of Traders Update
Friday’s Commitment of Traders report showed Funds were net long 59,165 contracts through June 17th.
Check out Crop Progress Snapshots and Charts to this article Here: https://bluelinefutures.com/2025/06/24/grain-markets-continue-to-slide-lower-despite-crop-conditions-declining/
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