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Sept. 1, 2009 / 4:39 PM

Grain futures follow stocks lower

CHICAGO, Sept. 1 (UPI) -- Grain futures closed sharply lower on the Chicago Board of Trade Tuesday as equities stumbled on Wall Street and oil prices fell.

Corn was off 9 3/4 to off 14, soybeans were off 13 1/2 to off 86; wheat was off 11 1/2 to off 11 3/4 and oats were off 7 1/2 to off 9 1/2.

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Corn futures fell despite a sale of 120,000 metric tons to Mexico Tuesday. Wheat dropped as progress in the harvest is replenishing stocks. Soybean futures dropped with weather showing improvements in China.

The prices:

Corn: Sep 3.12 1/4, of 14; Dec 3.19 1/4, off 10 1/2; Mar 3.32 1/2, off 10; May 3.41 1/2, off 9 3/4.

Soybeans: Nov 9.33, off 13 1/2; Sep 10.14, off 86; Nov 9.55 1/2, off 24; Jan 9.59 1/2, off 21 3/4.

Oats: Sep 2.03 1/4, off 7 1/2; Dec 2.15 1/2, off 9 1/2; Mar 2.28 1/4, off 9 1/2; May 2.37, off 9 1/2.

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