Soybean futures have experienced a notable increase, reaching their highest levels since February. Following a USDA report, prices rose by $0.20, pushing the July contract firmly above the 200-day moving average for the first time since 2023. Market attention is now focused on the $11.00 mark, with $11.04 representing the February highs and coinciding with 50% of the May 2024 price level. Trading activity includes significant options transactions, with multiple call spreads and put sales executed across various strike prices ranging from 940 to 1240. Volatility levels for soybean contracts have settled between 15.4% and 19.7%, while corn and wheat futures show volatilities of 22.4% and 25.7%, respectively. The upward momentum is also reflected in November soybean futures trading above the September trendline, indicating sustained bullish sentiment in the soybean market.