Are we close to harvest lows?

Soybeans led the way lower yesterday as the whole grain and oilseed complex lost ground yesterday. Soybeans lost 23 cents and busted right through the 200-day moving average at 13.30 while corn took out the 4.73 support level that had held multiple tests before yesterday. Are we putting in the harvest lows or are the funds just blindly adding to winning positions? What can stem the negative tide in the short run? Lower than expected yields coming off the combine along with some rains like the ones forecasted this weekend raising river levels to ease shipping costs and the current dry and hot weather in N Brazil during soybean and 1st crop corn planting. We will have to be patient in the short term as these markets search for support. For today, we will use 4.65 & 13.08 for support and 4.83 & 13.28 for resistance. NFC Grain Comments Options -9.19.23 (1)

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