Grains close sharply lower Friday

CHICAGO, Nov. 21 (UPI) -- Grains closed sharply lower on the Chicago Board of Trade Friday despite gains on Wall Street and rising crude oil prices.

Corn was off 25 1/4 to off 25 3/4, soybeans were off 15 1/4 to off 16, wheat was off 12 1/2 to off 13 and oats were off 5 1/4 to off 5 1/2.

Corn closed lower although reports said frost in Argentina may have damaged crops with 72 percent of their corn acreage planted.

Wheat in Argentina may also have been affected by frost. Beneficial rains are forecast for Argentina's soybean areas, while Brazilian soybeans received rain Thursday.

The prices:

Corn: Dec 3.38 1/2, off 25 1/4; Mar 3.54 1/4, off 25 3/4; May 3.65 1/2, off 25 1/2; Jul 3.76 1/4, off 25 1/2.

Soybeans: Jan 8.40, off 16; Mar 8.47 1/4, off 15 1/2; May 8.55 3/4, off 15 3/4; Jul 8.63 3/4, off 15 1/4.

Wheat: Dec 4.99, off 12 3/4; Mar 5.18, off 13; May 5.31 3/4, off 13; Jul 5.31 3/4, off 12 1/2.

Oats: Dec 2.00 3/4, off 5 1/2; Mar 2.16 3/4, off 5 1/4; May 2.27 1/2, off 5 1/2; Jul 2.38, off 5 1/2.