Soybeans

Wednesday’s Recap
July Soybean futures settled at a one week high of 1050’2 Wednesday, adding 4’2. Across all maturities, volume was 331,639, with July seeing 140,319 done. Overall open interest rose by 3,204, or 0.39%, to end the session with 816,245 outstanding. The July maturity added 3.19% (3,204) to finish at 353,847.

Technicals
While corn techincals have seen some deterioration this week, soybeans have strengthened. Prices are again knocking on the door of resistance from 1057-1060. A break and close above this pocket could open the door for a swift move higher with the next upside objective coming in from 1078 1/2-1081 3/4. Another failure against resistance and we could be right back at the lower end of the recent range, which we’ve outlined as our pivot pocket from 1037 1/2-1040.

Technical Levels of Importance
Resistance: 1057-1060***, 1078 1/2-1081 3/4****
Pivot: 1037 1/2-1040
Support: 1027-1029***, 1008-1013**

Popular Options
The May 1030 put saw the most changing hands with 8,249 contracts done. Option open interest is highest for the Nov 1200 calls at 21,481, and the Nov 900 puts at 21,396.

Volatility Update
Soybean implied volatility was moderately higher as SVL added 0.24 to settle at 17.63. Historical volatility (30-day) ended the session at 17.40%, lower by 0.36%, to a one week low. The SVL Skew finished sharply up, adding 0.44 to end at a one month high of 1.21.

Seasonal Tendencies Update
(Updated on 4.21.25)

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).

Commitment of Traders Update
Friday’s Commitment of Traders report showed Funds were net buyers of roughly 76.6k futures and options contracts. This flips them from net short to net long, by 26,169 contracts.

Want to Keep reading the Full Article- with charts? : https://bluelinefutures.com/2025/04/24/are-soybeans-on-the-verge-of-a-breakout/

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