So much for the "risk on" bounce in risk assets on the Federal announcement that it was to continue asset purchases, which faded as Thursday grew older.
But agricultural commodities held up pretty well, even as Wall Street shares fell back from record highs into negative territory, and the dollar recovered some of the ground lost in the last session adding 0.2% against a basket of currencies.
A stronger dollar undermines prices of dollar-denominated commodities by making them less affordable to buyers in other currencies.
Sure, soybeans followed the negative script, closing down 0.6% at $13.39 ½ a bushel in Chicago for November delivery, depressed by a cocktail of negative factors.
And this despite some strong weekly US export figures, at 923,000 tonnes, well ahead of expectations, with a further 120,000 tonnes announced through the US Department of Agriculture's daily reporting system.
"The US, barely two weeks into the new marketing year, has already sold 61% of the USDA's 2013-14 soybean export target," Richard Feltes at broker RJ O'Brien said.
"Soy market downside may be limited until/unless the brisk pace of US soybean export sales, already at record 22.8m tonnes, slows."
'Crop conditions have stabilised'
However, negative to prices was the prospect of further rain, boding well for the prospects for crop recovery.
"Showers will continue across the Midwest and Delta the next three days," US Commodities said, adding that rains "will cover about 55% of the Midwest and 65% of the Delta and southern Midwest".
As a further positive, "there is no evidence of an early frost/freeze threat into October 5", the broker said.
"Crop conditions have stabilised," a factor which should be reflected in Monday's USDA crop report.
And after all, as Darrell Holaday said: "It is really difficult to rally, and have the rally hold, in markets that are staring harvest in the face."
Good news, bad news
Indeed, that has already been a weight on futures in corn, for which the US harvest started some weeks ago, although has yet to begin in earnest in the Corn Belt heartlands.
However, many of the factors negative for soybeans were positive for the grain.
The Midwest rains, for instance, are far too late to boost corn yields, but will slow the harvest pace, easing pressure on values from that score.
"The halt in harvest has those rushing to take advantage of early premiums complaining, while others welcome the rains to replenish soil moisture and help finish out soybeans that are still green," CHS Hedging said.
'Held up rather well'
Technically, the sell-off in soybeans is positive too, in encouraging the unwinding of long soybean-short corn bets.
"Corn and wheat have held up rather well because there are still a lot of soybean/corn and soybean/wheat spreads that are being liquidated," Country Futures' Mr Holaday said.
Besides, there are increasing questions over ideas of a yield above 155 bushels per acre, as the USDA currently foresees, given decreasing crop condition, a factor flagged by Commerzbank.
Previously, Societe Generale and Morgan Stanley have suggested that investors may have cut the risk premium in corn too thin.
Corn for December added 0.8% to $4.59 ½ a bushel, despite weekly US export sales which, at 437,000 tonnes, fell short of forecasts.
That was not a problem for wheat, for which US sales hit 704,000 tonnes, a figure deemed "impressive" by CHS Hedging, and appearing to underline an idea from Macquarie that US wheat does not need to compete hard for now for export share, given the global squeeze on quality wheat supplies.
(Except in the UK.)
The unwinding of spreads with soybeans helped the grain too, as did what Mr Feltes termed an "odd mix" of positive factors, including "weather extremes across South American wheat, reports of reduced Black Sea milling wheat availability and positive chart action".
These offset the bearish factors of a "monster Canadian crop and nearly ideal US hard red winter wheat pre-planting conditions", following rains on the US Plains.
In fact, on South America, Argentina slashed its forecast for sowings to 3.4m hectares, from 3.9m hectares, citing dryness, which MDA said was to continue.
"Dryness remains a concern across Cordoba, southern Santa Fe, La Pampa, and north western Buenos Aires, stressing wheat growth," the weather service said.
"With mainly dry weather expected in most areas over the next 10 days, dryness should expand again," MDA said, adding that "some freeze damage was possible for wheat in central Cordoba and La Pampa yesterday".
Chicago wheat for December added 1.6% to $6.57 a bushel, its third successive positive close, and coming close to its first finish above its 50-day moving average in three months.
Paris wheat added a more genteel 0.5% to E186.00 a tonne for November delivery. European Union weekly wheat exports came in at 546,000 tonnes, down week on week, although still showing a healthy pace.
'Given a 'buy' signal'
Among soft commodities, raw sugar added 1.7% to 17.17 cents a pound in New York for October delivery, helped in part by some lingering positive feeling on the Federal Reserve's decision on asset purchases.
"The funds have seemingly been given a 'buy' signal across the whole commodity basket by the Fed," Sucden Financial's sugar desk said.
However, weather played a part too, with WxRisk.com noting that on Wednesday-Thursday "for the first time in quite a while we saw significant rains push up into much of east central Brazil", a big sugar growing area, where rainfall means slow cane harvest progress.
"These rains came further north and the models were forecasting over the past few days.
"Rains of 12-50mm covered the northern half of Parana, 65% of Sao Paulo, into the southern third of Goias and south west Minas Gerais," the weather service said.
But cotton for December fell back 1.0% to 84.72 cents a pound, thanks in part to a drop in US weekly export sales to 103,000 running bales, from 154,000 running bales the week before, old crop and new combined.