CHICAGO, April 12 (UPI) -- Grain futures closed sharply lower Tuesday as Japan shook equity and commodity markets with news that its nuclear plant crisis was far from over.
Corn was off 20 3/4 to off 23 3/4, soybeans were off 19 1/4 to off 24, wheat was off 32 1/2 to off 39 1/2 and oats were off 7 to off 10 1/2.
Corn futures dropped on the Chicago Board of Trade as funds were actively selling and cold, wet weather was forecast for the Midwest. Wheat prices fell as China sold 131,720 metric tons of feed wheat from its reserve stockpiles in an effort to ease prices, while Iraq issued a tender for 100,000 metric tons. China also intervened in the soybean market with a plan to sell three million metric tons from reserves.
The prices:
Corn: May 7.52 1/2, off 23 1/2, Jly 7.57 1/2, off 23 3/4, Sep 6.96 1/2 off 22, Dec 6.36 1/2 off 20 3/4.
Soybeans: May 13.29 3/4 off 38 3/4, Jly 13.41 off 38 3/4, Aug 13.43 1/4 off 38, Sep 13.44 1/4 off 37 1/2.
Wheat: 7.59 1/2 off 38 3/4, Jly 7.92 1/4 off 39 1/2, Sep 8.30 1/2 off 36 1/2, Dec 8.60 1/2 off 32 1/2.
Oats: May 3.91 off 10 1/2, Jly 3.99 1/2 off 10 1/2, Sep 4.03 1/2 off 9, Dec 4.08 off 7.
