Soybeans

Monday’s Recap
Monday’s Soybean market was lower in narrow trade, with the July contract off by 1’2 to 1056’0. Overall, 277,456 contracts changed hands, with 120,715 traded in July. Total open interest shed 16,202 (1.85%) to end the session with 857,547 outstanding. The July maturity decreased 5.86%, or 16,202, to finish at 292,688.

Technicals
July soybean futures saw some selling in Monday’s trade, but it wasn’t enough to do any serious technical damage to the chart. In the early morning trade, prices are lingering near our pivot pocket 1053-1056 3/4. If this were to giveaway, it could open the door for pressure back to the low end of the recent range, 1035 3/4-1040.

Technical Levels of Importance
Resistance: 1067 3/4-1073 1/4***,
Pivot: 1053-1056 3/4
Support: 1035 3/4-1040***, 1020-1025**, 1006-1009****

Popular Options
Option trading centered around the July 1070 calls with 1,831 changing hands and the August 1050 puts with volume of 1,715. Options with the largest open interest are the Nov 1200 call with 25,955, and the Nov 900 put with 19,433.

Volatility Update

Implied Volatility finished slightly down with SVL off 0.14, to end the day at 16.64. Losing 0.0257%, historical volatility (as measured by the 30-day) closed the day at 13.86%. The SVL Skew ended the session slightly higher, gaining 0.0053 to close at a one month high of 2.87.

Headlines
U.S.-China trade talks were set to extend to a second day in London as top economic officials from the world’s two largest economies sought to defuse bitter dispute that has widened from tariffs to restrictions over rare earths.

Seasonal Tendencies Update
(Updated on 6.9.25)

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 sellers of roughly 28k futures and options contracts.

Check out the charts and Crop Progress Report Snapshot Here: https://bluelinefutures.com/2025/06/10/grains-slide-lower-following-crop-progress-report/

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