Farm commodities showed their independence from some other types of risk assets on Wednesday.
That meant losing ground, even while the likes of
Indeed, external signs might have been considered promising for crops, with the safe haven of the
And, in another sign of fear taking a back seat to greed, the
A finding of the pesticide in sufficient quantities would prompt a ban on the imports from Brazil, the top orange juice exporter, that the US needs to top up its own production and meet domestic demand.
Furthermore, the rally in London white sugar, initially seen as prompted by a European Union decision to back track on imports of raws, is beginning to look momentous, with the March lot recording a ninth successive gain, this time by 0.4% to $630.60 a tonne.
However, the grains found headway difficult to come by.
Not least thanks to the latest twists in the South American weather forecast which have continued to prove such an influence on prices, given the threat that persistent dryness has posed to output in Argentina and southern Brazil.
Australia weather forecaster said that the La Nina weather pattern, on which South American dryness has been blamed, had shown signs of weakening in the last two weeks.
And, coincidence or not, forecasters noted somewhat more moisture in forecasts.
Rains expected to enter eastern and northern Argentina early next week are seen moving "slower than what the models showed earlier", weather service WxRisk.com said.
"And because the event takes longer to move though, more rain falls."
At rival World Weather, Drew Lerner said that rains forecast for Argentina "should be sufficient to slow or stop the declining moisture trend and offer a short-term improvement to topsoil moisture once again".
While dry weather will resume in the country, in southern Brazil, "the bottom line calls for no prolonged period of dry weather".
As an extra setback to
Furthermore, there are growing concerns for a huge jump in corn acres provoked by prices which remain elevated, by historical standards - and still at a premium in Chicago to wheat, after all.
"The fear in the US is that corn acres balloon to 97m-98m acres," US Commodities said, implying a jump if some 6m acres year on year.
"It is now estimated that former Soviet Union corn acres will expand up to 5m acres" too.
The news was not all bad for the grain, with Egypt buying 120,000 tonnes of it from the US, as reported through the US Department of Agriculture's daily briefing system.
And this following some South Korean purchases overnight.
But while "there has been some increase in export activity, we need to see more to establish a low", Darrell Holaday at Country Futures said, forecasting a drop to $5.85 a bushel in Chicago prices.
"At that level, we feel the market will represent value and buying will surface in that area.
The March contract ended down 1.7% at $5.93 ½ a bushel, pretty near its intraday low.
But talk of Chinese buying fostered a revival in the oilseed, with prices in the country itself hitting the equivalent of $18 a bushel overnight, on US Commodities calculations.
Benson Quinn Commodities said: "It appears the window to do some soybean business with the Chinese is opening up.
After all, "there are some concerns about the ability of Brazilian export points to get their hands on the early harvest", Brazil being the second-ranked exporter.
"South American basis levels are firming."
Soybeans for March ended unchanged at $11.83 ½ a bushel, and up more than 10 cents on their day low.
As Mr Holaday said, "wheat remains under pressure because the world fundamentals remain negative and when corn is lower, wheat has a hard time finding a bid"
Furthermore, there are forecasts "of moisture in the southern Plains next week and that is also pressuring wheat today".
And a record harvest in Western Australia, Australia's top grain producing state, boosted hopes for the national crop too.
The weakness spread across the Atlantic to Paris, where March wheat ended down 1.3% at E197.50 a tonne, and London, where the best-traded May lot lost 0.5% to £156.50 a tonne.