Abstract SY Cha is a T Tauri star surrounded by a protoplanetary disk with a large cavity seen in the millimeter continuum but has the spectral energy distribution of a full disk. Here we report the first results from JWST/Mid-InfraRed Instrument (MIRI) Medium Resolution Spectrometer (MRS) observations taken as part of the MIRI mid-INfrared Disk Survey (MINDS) GTO Program. The much improved resolution and sensitivity of MIRI-MRS compared to Spitzer enables a robust analysis of the previously detected H₂O, CO, HCN, and CO₂ emission as well as a marginal detection of C₂H₂. We also report the first robust detection of mid-infrared OH and rovibrational CO emission in this source. The derived molecular column densities reveal the inner disk of SY Cha to be rich in both oxygen- and carbon-bearing molecules. This is in contrast to PDS 70, another protoplanetary disk with a large cavity observed with JWST, which displays much weaker line emission. In the SY Cha disk, the continuum, and potentially the line, flux varies substantially between the new JWST observations and archival Spitzer observations, indicative of a highly dynamic inner disk.