The most active corn contract for December delivery fell 2.75 cents, or 0.4 percent, to settle at 6.7825 U.S. dollars per bushel. December wheat lost 8.25 cents, or 0.97 percent, to settle at 8.4125 dollars per bushel. November soybean rose 0.5 cents, or 0.04 percent, to settle at 13.725 dollars per bushel.
Flooding rainfall in Australia is the only new supply threat this week. With the U.S. dollar sharply higher, trade volume and enthusiasm is lacking.
Wheat futures worldwide await clarity over Black Sea grain flows, which will be unavailable until early November. Volatility continues. Chicago-based research company AgResource maintains a strategy of pricing a majority of 2022 production on rallies.
Egypt's GASC was in talks this week to secure additional wheat supply for winter arrival, but no deal was made.
U.S. ethanol production through the week ending Oct. 14 totaled 299 million gallons, up 25 million gallons from the previous week as maintenance season ends, but down 7 percent from the previous year. Gasoline consumption totaled 8.7 million barrels per day, down 10 percent year on year. Ethanol stocks are relatively abundant at 917 million gallons.
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