Corn and Wheat futures fell to lowest levels since July.

Oliver Sloup analyzes the latest session across the grain complex as selling pressure pushed corn and wheat to multi-month lows. Dec Corn futures dropped 6 1/4 cents to settle at 448'6, marking a new low for the move and the lowest price since July, while weekly export inspections came in at 24.6 million bushels and harvest reached 60% complete. Jan Soybean futures settled 9 1/2 cents lower at 1,243 following an early reversal from 1,261'4, even as weekly export inspections reached 91 million bushels to run 42% ahead of last year's pace with harvest 79% complete. In addition, Dec Chicago Wheat futures fell 5 3/4 cents to settle at 610'2, reaching the lowest price since July 1 as the Relative Strength Index dropped to 23.55 in its most oversold reading of the year.