Grain futures close lower Thursday

CHICAGO, July 2 (UPI) -- Grain futures closed lower Thursday on the Chicago Board of Trade as stocks plunged in New York in advance of the Independence Day break.

Corn was off 6 to off 11 1/2, soybeans were off 6 1/2 to off 15 1/2, wheat was off 6 to off 6 3/4 and oats were off 10 to off 10 1/2.

Corn futures closed lower with the dollar gaining strength against the euro and the yen. Wheat prices fell as the winter wheat harvest reportedly was 40 percent complete in the nation's major wheat states. Soybean futures dropped as 91 percent of the crop has emerged, close to its historic average.

The prices:

Corn: Jul 3.45 3/4, off 6; Sep 3.45 3/4, off 10 3/4; Dec 3.57, off 11 3/4; Mar 3.71, off 11 1/2.

Soybeans: Jul 12.43, off 15 1/2; Aug 11.54, off 6 1/2; Sep 10.61, off 7 1/2; Nov 10.06, off 9 1/2.

Wheat: Jul 5.00 1/4, off 6; Sep 5.29, off 6 1/2; Dec 5.55, off 6 1/2; Mar 5.72 3/4, off 6 3/4.

Oats: Jul 2.15 1/2, off 10; Sep 2.24 1/2, off 10 1/2; Dec 2.36 3/4, off 10; Mar 2.48 3/4, off 10.