Today's grain markets displayed mixed action, with Soybean futures trading lower following increased ending stock estimates from Friday's USDA report. Corn futures saw a modest recovery from Friday's heavy selling pressure, while Wheat futures experienced sideways, mixed trade near a one-month low amidst low holiday volume. Across the complex, implied volatility moved lower, with Soybean CVOL dropping to 15.8% and Wheat CVOL easing to 27%. Options activity highlighted the day's shifts, as soybeans saw a clear migration from calls to puts, while wheat contract open interest expanded notably on the call side.
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