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Grain futures sharply lower Thursday

Chicago -- Grain futures closed lower on the Chicago Board of Trade Thursday, as the dollar rose against the euro and yen and crude oil prices held steady.

Chicago -- Grain futures closed lower on the Chicago Board of Trade Thursday, as the dollar rose against the euro and yen and crude oil prices held steady.

Corn was off 12 3/4 to off 13 1/4, soybeans were off 35 1/4 to off 37 1/2, wheat was off 17 to off 18 3/4 and oats were off 3 1/4.

Corn futures fell although export sales have been strong for the week with 1.2 million metric tons sold. Wheat exports sales were close to expectations at 345,000 metric tons. Soybean prices fell sharply with exports of meal in line with predictions, but better than predicted for oil and whole soybeans.

The prices:

Corn: Mar 3.97, off 13 1/4; May 4.07 3/4, off 13 1/4; Jul 4.16 3/4, off 12 3/4; Sep 4.22 3/4, off 12 3/4.

Soybeans: Jan 10.22, off 37 1/2; Mar 10.30, off 37; May 10.36 1/2, off 36 1/2; Jul 10.41 3/4, off 35 1/4.

Wheat: Mar 5.18 1/2, off 18 3/4; May 5.32, off 18 3/4; Jul 5.43 1/4, off 18 1/4; Sep 5.59, off 17.

Oats: Mar 2.59; May 2.67 1/4; Jul 2.76; Sep 2.84 1/3 -- all off 3 1/4.

Copyright 2009 by United Press International.

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