A Choppy Grain Trade Keeps Traders Active

A choppy grain trade has presented a lot of shorter-term opportunities for traders on both sides of the market.  Is that the trend into the prospective planting report?

Soybeans

Thursday’s Recap
Thursday’s Soybean market was higher with the May contract up by 10’2 (1.02%), to 1010’6. Across all maturities, 226,189 contracts were traded, with 114,617 done in the May maturity. Overall open interest increased 1,087 (0.13%) to end the session with 815,316 outstanding. The May maturity dropped 0.79%, or 1,087, to finish at 375,961.

Technicals
May soybean futures traded in about a 20-cent range yesterday, which lends hand to our thesis that this choppy trade environment benefits shorter term traders, on both sides of the market. Despite the fairly wide trading range, support and resistance levels remain intact for today’s trade.

Technical Levels of Importance
Resistance: 1024-1030 1/4***, 1036 1/2-1042****
Pivot: 1008-1013
Support: 991-995 3/4****, 977 1/4**

Popular Options
The April 1000 put saw the most action with 4,182 contracts changing hands. Largest volumes in May option trading were seen in the 1080 calls (608) and the 960 puts (1,549). Options with the largest open interest are the Nov 1200 call with 15,601, and the May 1000 put with 16,466.

Volatility Update
Implied Volatility was moderately higher with SVL adding 0.27, to finish the day at a one week high of 17.60. The 30-day historical volatility settled dropping 0.18% to a one week low of 17.18%. The SVL Skew was sharply up with the 30-day higher by 0.083, closing the day at a one week

Read the Full article with Charts Here: https://bluelinefutures.com/2025/03/14/grain-markets-mixed-in-the-overnight-trade/ 

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