Grain futures drop Tuesday

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CHICAGO, May 22 (UPI) -- Grain futures fell sharply Tuesday on the Chicago Board of Trade, as the dollar index rose 0.86 percent on the International Exchange.

Corn was off 17 1/2 to off 36, soybeans were off 24 to off 31, wheat was off 9 1/4 to off 18 1/2 and oats were off 4 3/4 to off 8 1/2.

Funds sold 25,000 corn futures contracts Tuesday, as outside pressures, including a stronger dollar, also weighed on commodities. Wheat prices fell after early gains slipped away, with the winter wheat harvest just beginning. Soybean futures were also pressured by early crop progress. Farmers report the crop is 76 percent planted with 35 percent of the fields showing emergence, The U.S. Department of Agriculture reported.

The prices:

Corn: Jly 5.97 off 36, Sep 5.26 off 22 1/2, Dec 5.22 off 18 1/2, Mar 5.33 off 17 1/2.

Soybeans: Jly 13.82 1/4 off 30 1/4, 13.64 3/4 off 31, 13.14 3/4 off 30 1/4, 12.82 1/4 off 24.

Wheat: Jly 6.85 1/2 off 18 1/2, Sep 6.97 1/2 off 16 1/2, Dec 7.16 1/2 off 12 3/4, Mar 7.30 1/2 off 9 1/4.

Oats: Jly 3.33 1/2 off 8 1/2, Sep 3.38 off 8 1/2, Dec 3.43 1/2 off 8 1/2, Mar 3.43 1/2 off 4 3/4.