Soybean futures fall below key moving average as harvest advances.

November Soybean futures closed moderately lower, breaking below the 50-day moving average for the first time since August 11. The move below technical support raises questions about whether managed money funds will liquidate their large long position alongside seasonal harvest pressure. U.S. soybean harvest progress jumped 21% over the week to reach 46% complete, trailing the 5-year average of 50%. Meanwhile, September NOPA crush came in well below trade expectations at 196.3 million bushels compared to the expected 203.7 million. Market focus is now turning toward South American weather and early planting progress in Mato Grosso.