November soybeans gained 25.25 cents on huge volume of 369,720 contracts. Volume was the highest since July 19 when 399,183 contracts were traded and November soybeans closed at $16.52 1/4. On October 11, open interest increased by 2,984 contracts, which in relation to volume is approximately 70% less than average. In other words, the increase of open interest was not significant. The November contract lost 14,128 contracts of open interest, but buying in the back months offset this decline. The market made a high of 15.68, but was unable to hold its gains and closed approximately 20 cents off the high. The minor increase in open interest and the poor closing is indicative of a market that is not ready to have a significant rally.