Soybean futures moved lower as the market anticipated a bumper crop from Brazil and noted a lack of significant Chinese purchases. Ahead of the upcoming USDA report, corn futures also faced pressure from expectations of increased world ending stocks, maintaining a narrow trading channel. Wheat futures prices declined as U.S. inventory estimates reached a six-year high, weighing on contracts across the board. Despite some short-covering activity by money managers, net positions in the grain complex remained short as participants awaited updated production and supply figures.