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Grain futures close sharply lower Monday

Chicago -- Grain futures closed on the Chicago Board of Trade as equities stumbled on Wall Street with the dollar rising and crude oil prices on the decline.

Corn was off 18 1/4 to off 19 3/4, soybeans were off 17 3/4 to off 19 1/2, wheat was off 20 1/2 to off 22 1/4 and oats were off 2 3/4.

Corn futures closed lower with the harvest just underway in several states and nearly complete in Texas and North Carolina, the U.S. Department of Agriculture said. Wheat prices dropped as the dollar rebounded. The soybean harvest is 30 percent done, slow for this time of year, the USDA said.

The prices:
Corn: Dec 3.78, off 19 3/4; Mar 3.90, off 19 1/4; May 3.98 3/4, off 18 3/4; Jul 4.06 1/2, off 18 1/4.

Soybeans: Nov 9.86 1/2, off 19 1/2; Jan 9.88 3/4, off 18 3/4; Mar 9.88 1/4, off 18 1/2; May 9.81 1/4, off 17 3/4.

Wheat: Dec 5.27, off 20 3/4; Mar 5.46 1/4, off 20 1/2; May 5.57 3/4, off 21 1/4; Jul 5.67, off 22 1/4.

Oats: Dec 2.47 1/2, off 2 3/4; Mar 2.61, off 2 3/4; May 2.69, off 2 3/4; Jul 2.77 1/2, off 2 3/4.

Copyright 2009 by United Press International.

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