Grains prices decline in Chicago Tuesday

CHICAGO, Oct. 14 (UPI) -- Grains closed lower on the Chicago Board of Trade as a stock market rally ended and crude oil prices fell in New York Tuesday.

Corn was off 1/4 to off 1/2, soybeans were off 31 to off 32 1/4, wheat was off 14 to off 15 1/2 and oats were off 1.

Corn closed lower although planting in Argentina has been slowed by dry conditions. Wheat prices fell although Australian wheat areas, in turn, are expecting dry weather for the next few days. China announced record September soybean imports, contributing to a year-to-date total of 29.7 million metric tons, up 32.2 percent over the first nine months of 2007.

The prices:

Corn: Dec 4.11 1/4, off 1/4; Mar 4.29, off 1/2; May 4.40 3/4, off 1/2; Jul 4.51 3/4, off 1/4.

Soybeans: Nov 8.96, off 32; Jan 9.11 1/4, off 32 1/4; Mar 9.24 3/4, off 32, May 9.35 3/4, off 31.

Wheat: Dec 5.73, off 15 1/2; Mar 5.93 3/4, off 15 1/4; May 6.07 1/2, off 15; Jul 6.20 3/4, off 14.

Oats: Dec 2.92, off 1; Mar 3.09, off 1; May 3.20 1/2, off 1; Jul 3.32, off 1.