Corn and Soybean futures dropped ahead of key monthly WASDE report.

Grain markets faced pressure as traders positioned themselves ahead of the highly anticipated monthly WASDE report. December Corn futures tested recent lows but managed a slight recovery into the close, while the new crop November Soybean futures contract broke below key moving averages, marking its lowest settlement since early July. Recent crop progress reports indicated corn conditions remained unchanged, whereas soybean conditions experienced a slight decline. Looking ahead, the market is closely tracking yield estimates and harvested acreage figures. Additionally, weather forecasts showing above-normal temperatures and precipitation in the Midwest will serve as a critical catalyst for the soybean market in the coming weeks.