Export woes hurt corn, soybean prices

Grain futures closed lower in Chicago Thursday under export pressure from corn and soybeans. On the Chicago Board of Trade, corn was off 6 1/2 to off 9 3/4 cents, soybeans were off 22 3/4 to off 28 1/4 cents, wheat was off 15 1/4 to off 15 1/2, oats were off 14 1/2 to off 15 1/2. Soybeans were lower on news China had canceled major soybean purchases this week. Corn followed soybeans on spillover, as well as the corn market's own export concerns. Wheat was lower on spillover pressure from soybeans and needed precipitation in the U.S. Central Plains. The prices: Corn: Mar 6.97 off 6 1/2, May 6.99 3/4, Jly 6.97 1/4 off 8 1/2, Sep 6.22 2/4 off 9 1/4. Soybeans: Jan 14.08 3/4 off 28 1/4, Mar 14.04 3/4 off 26 1/4, May 13.94 3/4 off 24 3/4. Wheat: Mar 7.90 1/2 off 15 1/4, May 8.02 off 15 1/4, Jly 8.07 3/4 off 15 1/4, Sep 8.18 1/2 off 15 1/2. Oats: Mar 3.59 3/4, May 3.67 1/4 off 15 1/4, Jly 3.69 1/4 off 14 1/2, Sep 3.58 3/4 off 14 1/2.