Grain prices off sharply in Chicago Friday

CHICAGO, Aug. 15 (UPI) -- Grain prices fell sharply on the Chicago Board of Trade Friday, falling along with other commodities amid worries of a global economic slowdown.

On the Chicago Board of Trade, corn was off 27 3/4 to off 28, soybeans were off 53 3/4 to off 55 1/2, wheat was off 40 to off 40 1/4 and oats were off 8.

Traders were concerned Brazil would turn to Europe for feed-quality wheat and reduce imports of U.S. corn. Wheat fell as a major Egyptian purchase included Russian and Ukrainian wheat, but by-passed U.S. sources. Soybeans traders learned China had canceled a palm oil purchase, indicative of slowing demand.

The prices:

Corn: Sep 5.29 3/4, off 28; Dec 5.49 1/2, off 27 3/4; Mar 5.68 1/2, off 28; May 5.80 1/2, off 27 3/4.

Soybeans: Sep 12.11 1/2, off 53 3/4; Nov 12.19, off 55; Jan 12.36 3/4, off 55 1/4, Mar 12.52 1/2, off 55 1/2.

Wheat: Sep 8.24 1/4, off 40 1/4; Dec 8.49 1/4, off 40 1/4; Mar 8.74, off 40; May 8.89 1/2, off 40 1/4.

Oats: Sep 3.73 1/2, off 8; Dec 3.93, off 8; Mar 4.11 1/2, off 8; May 4.22 1/2, off 8.