Grain futures slide Tuesday

Corn was off 6 1/4 to off 6 1/2, soybeans were off 3/4 to off 3, wheat was off 4 1/2 to off 9 and oats were off 8 to up 1.

Corn prices fell on a weaker dollar, despite a U.S. Department of Agriculture announcement of a sale of 116,000 metric tons to an unnamed buyer. Wheat futures fell with Australia expecting a drop in wheat available for exports due to extensive rains through the harvest season. Soybeans found support from an announcement that China would increase imports to combat rising food prices.

The prices:

Corn: Dec 5.47 1/4, off 6 1/2; Mar 5.61 3/4, off 6 1/4; May 5.69 3/4, off 6 1/2; Jly 5.74 1/4, off 6 1/2.

Soybeans: Jan 12.85 1/2, off 3; Mar 12.94 1/4, off 1; May 12.97 3/4, off 3/4; Jly 12.99 3/4, off 1 1/4.

Wheat: Dec 7.43, off 9; Mar 7.84 3/4, off 8 1/4; May 8.05 1/2, off 6 1/4; Jly 8.03 1/4, off 4 1/2.

Oats: Dec 3.64, off 8; Mar 3.73, up 1; May 3.77 1/2, up 3/4; Jly 3.81, off 1/2.

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