Chicago -- Corn futures closed lower and soybeans higher in Chicago Tuesday, with a slump in equities on Wall Street persisting for a third consecutive trading session.
Corn was off 8 1/4 to off 9 3/4, soybeans were up 6 1/2 to up 8, wheat was unchanged and oats were off 5 1/2 to off 6 1/2.
Corn lost ground on the Chicago Board of Trade, with selling prompted by end-of-the-month inventory adjustments. Wheat futures held steady, with traders keeping an eye on continued dry weather winter wheat areas. The U.S. Department of Agriculture announced a sale of 165,000 metric tons of soybeans Tuesday to buyers it did not identify.
Corn: Dec 5.30, off 8 1/4; Mar 5.44, off 9 1/4; May 5.51 1/2, off 9 3/4; Jly 5.55 1/2, off 9 3/4.