Grains Firm After a Softer Sunday Night Open. Is the Rally Back On?

Soybeans

Technicals (January)
January soybean futures got hit hard on Friday and saw follow-through selling out of the gate on Sunday night, however buyers have stepped in right in our first support pocket, 1112 1/2-1116 1/4, which has bounced prices right back to our pivot pocket from 1134-1137. As mentioned in Friday’s video, this little 20 cent pocket is a bit of a meatgrinder zone that could chop some traders up. It’s possible we see a continued choppy trade filled with opportunities in this pocket, but a breakout above or below and we are likely seeing an extension in that direction. In our opinion, Friday’s report had more bullish tidbits than bearish tidbits with the only bearish factor really being the lack of flash-sales from China during the government shutdown. Other headline data such as yield, US ending stocks, and world ending stocks were all below the average analyst estimate. We’d also add that we’ve seen other markets get jawboned in a direction via the Administration, which does keep some lingering headline risk that is currently skewed to the upside (ie: any statement regarding China buying soybeans). As crazy as it sounds, in the near term, the substance of the jawboning might not even matter, but it’s the potential that the Administration eventually gets what it wants (Chinese purchases of US Soybeans) that keeps shorts nervous and buyers ready.

Technical Levels of Importance
Resistance: 1150 1/2-1152 1/4***, 1175**
Pivot: 1134-1137
Support: 1112 1/2-1116 1/4***, 1098-1103 1/2***, 1083-1087***

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).