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Grains drop for second consecutive session

CHICAGO, Sept. 18 (UPI) -- Grain prices closed lower Tuesday as prices eroded for the second consecutive day with traders concerned about the weak global economy.

Corn was off off 8 to off 9, soybeans were off 16 3/4 to off 33, wheat was off off 30 1/4 to off 46 1/4 and oats were off off 7 3/4 to off 10 1/2.

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Corn prices continued Monday's fall that was triggered by fears of a trade war with China, one of the country's most significant grain customers. Wheat prices fell sharply with growers in Australia reportedly benefiting from a half inch of rainfall this week. Soybeans moved lower as harvest activity pushed traders to profit taking while silos were filling.

The prices:

Corn: Dec. 7.40 off 8, Mar 7.44 off 8 1/2, May 7.43 1/2 off 8 1/4, Jly 7.35 1/2 off 9.

Soybeans: Nov 16.40 off 29, Jan 16.39 1/4 off 30 3/4, Mar 15.99 3/4 off 33, May 15.36 off 16 3/4.

Wheat: Dec 8.63 1/2 off 14 1/2, Mar 8.75 3/4 off 14 1/2, May 8.75 3/4 off 16, Jly 8.46 off 16 1/2.

Oats: Dec 3.74 off 10 1/2, Mar 3.80 off 8 1/2, May 3.81 1/4 off 7 3/4, Jly 3.79 1/2 off 7 3/4.

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