Grains head lower Monday

Grain futures prices were sharply lower Monday on the Chicago Board of Trade as South American supplies undermined prices. Corn was off 3 to off 53, soybeans were off 1 1/2 to off 14, wheat was off 20 1/2 to off 23 3/4 and oats were off 15 1/4 to off 20. Corn and wheat moved in tandem with trades, seeking out new competitive pricing. Soybean prices were split, with long range contracts seeking higher ground and short-range contracts headed lower. The prices: Corn: May 6.42 1/4 off 53, Jly 6.26 3/4 off 49 1/4, Sep 5.51 off 12, Dec 5.35 1/2 off 3. Soybeans: May 13.90 3/4 off 14, Jly 13.72 1/4 off 13 1/4, Aug 13.39 off 7 3/4, Sep 12.83 1/2 off 1 1/2. Wheat: May 6.64 off 23 3/4, Jly 6.69 off 22, Sep 6.78 1/4 off 21, Dec. 6.92 3/4 off 20 1/2. Oats: May 3.76 1/4 off 20, Jly 3.71 1/4 off 20, Sep 3.58 1/4 off 20, Dec 3.45 3/4 off 15 1/4.