GRAINS — Soybeans hit seven — week low, corn down on dry Midwest harvest weather outlook

Drier forecast should speed Midwest fieldwork and Plains winter sowing USDA confirms 558,000 metric tons of US soybeans sold to China on Friday Black Sea shipping attacks failed to offset broader pressure from technical selling and fund exits (Adds closing prices, weekly trends) By Karl Plume CHICAGO, Oct 16 (Reuters) — US soybean futures dropped to a seven-week low on Friday while corn futures neared a two-month low as dry Midwest weather expected over the coming week was likely to fuel rapid harvesting progress. Wheat futures slid to a two-month low, posting a seventh straight weekly drop, as favorable winter crop planting weather in the Plains pressured prices. Technical selling and long liquidation ahead of the weekend pressured crop markets despite field work delays in many areas this week due to widespread rains. "Rain should linger in the northeastern Midwest and far southern Plains today, but drier weather is expected in all areas this weekend and early next week. This will favor corn and soybean harvesting as well as winter wheat planting," meteorologists with Vaisala said in a note. Chicago Board of Trade November soybeans ended down 1-3/4 cents at $12.61-1/4 a bushel aft