Soybeans Trade to 17-Month Highs. More Room to Run?

Soybeans

Technicals (January)
Buy the rumor, sell the news. Soybeans were screaming higher yesterday as rumors circulated that China was in the market for more soybeans. Later in the afternoon, Reuters reported that China’s state-owned grain trader COFCO bought at least 14 cargoes of U.S. soybeans on Monday, or at least 840,000 metric tons, for shipment in December and January. Also helping beans yesterday was a strong NOPA crush, which topped all trade forecasts and hit a record high in October, 227.647 million bushels of the oilseed, up 15.1% from the 197.863 million bushels crushed in September and up 13.9% from the October 2024 crush of 199.943 million bushels. It also eclipsed the previous monthly crush record of 206.604 million bushels set in December 2024.On the 7pm open, the market actually saw minor weakness. Since then, beans have traded into positive territory, but the momentum has slowed. Previous resistance from 1150 1/2-1152 1/4 will now act as the pivot pocket the Bulls need to defend. A break back below here and we could be back into the consolidation zone, or meat grinder area in the mid 1130s. Though we remain optimistic on soybean prices, and grains for that matter, you cannot expect it to be an easy trade with a straight line up and to the right, so being blindly long is ill-advised.

Technical Levels of Importance
Resistance: 1175** ,1200**
Pivot: 1150 1/2-1152 1/4
Support: 1134-1137***, 1112 1/2-1116 1/4***

Seasonal Tendencies Update
(Updated on 11.17.25)

Below is a look at historical price averages for January soybean futures on a 5, 10, 15, 20, and 30 year time frames (Past performance is not necessarily indicative of future results).

Check out the charts to this article here: Soybeans Trade to 17-Month Highs. More Room to Run? - Blue Line Futures

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Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

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