Grains Continue to Retreat
Grain markets have been under technical and fundamental pressure to start the week, bringing prices back down to some technically and psychologically significant support levels.
Soybeans
Market Recap
Soybean futures were higher Monday with the Nov contract finishing the session at 1007’6, up by 1’0. Total volume was 318,316, with Nov seeing 159,036 done. Across all maturities, open interest lost 5,810 (0.59%) to end the session with 975,806 outstanding. The Nov maturity decreased by 5.04%, or 5,810, to finish at 307,892.
Technicals (November)
November soybean futures were able to stabilize yesterday, above Friday’s low, which was a silver lining. However, prices are taking out those lows and trading back into our support pocket from 1000-1005. A failure here and continued pressure to 980-985 would be the next downside objective.
Technical Levels of Importance
Resistance: 1025-1028 3/4***, 1034-1037 3/4***
Pivot: 1014-1019 1/4
Support: 1000-1005***, 980-985****, 971 1/4**, 961***
Popular Options
The Nov 1000 put saw the most changing hands with 8,962 contracts traded. Option open interest is greatest for the Nov 1200 calls at 40,127, and the Nov 1000 puts at 29,123.
Vol Update
As measured by SVL, implied volatility closed the day moderately lower, down by 0.19 to end the session at 14.51. The 30-day historical volatility settled dropping by 0.45% to 11.94%. The SVL Skew closed the day sharply higher, up by 0.86 to end the session at 0.89.
Seasonal Tendencies Update
(Updated on 10.13.25)
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).
Commitment of Traders Update
The weekly CFTC Commitment of Traders report is suspended due to the government shutdown.
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