Farm commodities closed lower in Chicago, but higher in Europe, as a revival in the dollar eroded the competitiveness of US crops on export markets at a time over revived fears for American regulatory clampdowns.
Fundamental news was mixed for US crops. FC Stone, the broker, pegged the US corn and soybean crops a little higher than current US Department of Agriculture estimates.
But weekly export inspections presented more bullish news, coming in for wheat in line with traders' hopes, at 538,000 tonnes, and well ahead of corn and soybeans, at 1.22m tonnes and 1.39m tonnes respectively.
Still, with the prospect of a Chinese national holiday leaving the world's biggest buyer sidelined for a week, and some weak US economic data sending investors back to the cover of the dollar, bears gained the ascendancy.
Their position was strengthened by news that Deutsche Bank is poised, from October 19, to undertake wholesale changes to two commodity funds, one specialising in agriculture, to comply with regulatory changes aimed at ironing out market anomalies.
According to Agrimoney.com calculations, the changes will affect well over $1bn of agricultural commodity positions, with traders fearing other funds will be forced into similar moves.
Chicago wheat for December lost 4.75 cents to $4.52 ¾ a bushel, with December corn closing down 3.5 cents at $3.40 ½ a bushel.
November soybeans ended 9 cents lower at $9.18 a bushel.
European contracts did better, helped by the decline of the euro against the dollar.
Paris milling wheat for November finished E2.00 higher at E124.50 a tonne, with London feed wheat closing up £0.75 at £98.25 a tonne.
November rapeseed ended E0.75 higher at E259.75 a tonne.