Grains lower Friday

Grain futures closed lower in Chicago Friday with traders concerned demand may slacken with equity markets in a prolonged slump. Corn was off 10 3/4 to off 11 1/2, soybeans were off 25 to off 25 3/4, wheat was off 5 1/4 off 8 and oats were off 5 to off 5 1/2. Corn prices fell in sympathy with sharp drops in crude oil prices and with Argentina reporting an increase in acres planted this season. Wheat found some support from dry weather in Ukraine and Argentina, but not enough to send prices higher. A selling trend in soybean continued with traders expecting increased harvest pressure in the next few weeks. The prices: Corn: Dec 6.38 1/2 off 11 1/2, Mar 6.52 off 11, May 6.59 1/2 off 11 1/4, Jly 6.63 1/2 off 10 3/4. Soybeans: Nov 12.58 off 25, Jan 12.69 off 25 1/4, Mar 12.76 1/2 off 25 3/4, May 12.82 1/4 off 25 3/4. Wheat: Dec 6.40 3/4 off 7, Mar 6.75 1/4 off 8, May 6.92 3/4 off 5 1/4, Jly 6.98 off 5 1/4. Oats: Dec 3.31 1/2 off 5 1/2, Mar 3.42 1/2 off 5 1/2, May 3.50 off 5, Jly 3.56 off 5.