Grains fall hard in Chicago Friday

CHICAGO, Aug. 22 (UPI) -- Falling crude oil prices, a stronger U.S. dollar and rain in the Midwest pressured grain prices on the Chicago Board of Trade Friday.

Corn was off 10 3/4 to off 11 1/4, soybeans were off 20 to off 21, wheat was off 31 3/4 to off 32 and oats were off 11 1/2 to off 12 1/4.

Corn moved down along with oil, which dropped more than $6.50 per barrel on the New York Mercantile Exchange Friday. Wheat dropped although export figures are strong, with Iraq buying 786,900 metric tons of hard red wheat Friday. Soybeans fell with beneficial rains forecast in the Midwest.

The prices:

Corn: Sep 5.86 1/2, off 11 1/4; Dec 6.06 1/2, off 11, Mar 6.25 3/4, off 11 1/4; May 6.37 3/4, off 10 3/4.

Soybeans: Sep 13.21, off 20; Nov 13.27, off 21; Jan 13.44 1/2, off 20 3/4, Mar 13.58 1/4, off 20 3/4.

Wheat: Sep 8.65 1/2, off 31 3/4; Dec 8.90 1/2, off 31 3/4; Mar 9.15, off 31 3/4; May 9.29 1/4, off 32.

Oats: Sep 3.65, off 11 1/2; Dec 3.84, off 12; Mar 4.02, off 12 1/4; May 4.13, off 12.