Grain futures broadly lower as weather favors harvest and planting.

Soybean futures traded sharply lower, breaking below a four-week sideways channel and the 13'0 level, as favorable Midwest weather accelerated harvest progress. The Nov contract fell 39'6 to 1279'2. Corn futures also faced pressure, with the Dec contract dropping 11'0 to 517'2 as money managers reduced net long positions and markets digested a lack of developments from the U.S.-China summit. Wheat futures hit a new one-month low, keeping recent downtrends intact, as beneficial rains moved across winter wheat areas in Kansas, Oklahoma, and Colorado. Open interest remains elevated across all three agricultural markets.