Grain futures lower Monday

CHICAGO, July 6 (UPI) -- Grains futures closed lower Monday on the Chicago Board of Trade following a drop in crude oil prices, which fell to nearly $64 per barrel.

Corn was off 2 1/2 to off 14 3/4, soybeans were off 35 1/2 to off 43, wheat was off 9 1/2 to off 9 3/4 and oats were off 12 to off 12 1/2.

Corn futures closed lower with 92 percent of the nation's crop reportedly in fair to excellent condition. Wheat closed lower in spite of Saudi Arabia purchasing 440,000 metric tons Monday from sources that included the United States. Soybeans fell on favorable weather in Chinese and U.S. soybean growing areas.

The prices:

Corn: Jul 3.43 1/4, off 2 1/2; Sep 3.34 3/4, off 11; Dec 3.44 1/4, off 13 1/4; Mar 3.56 1/4, off 14 3/4.

Soybeans: Jul 12.00, off 43; Aug 11.18 1/2, off 35 1/2; Sep 10.22 1/2, off 38 1/2; Nov 9.63, off 43.

Wheat: Jul 4.90 1/2, off 9 3/4; Sep 5.19 1/4, off 9 3/4; Dec 5.45 1/4, off 9 3/4; Mar 5.63 1/4, off 9 1/2.

Oats:Jul 2.03 1/2, off 12; Sep 2.12 1/4, off 12 1/4; Dec 2.24 1/4, off 12 1/2; Mar 2.36 1/4, off 12 1/2.