Grain futures slide Monday

Grain futures closed lower on the Chicago Board of Trade Monday with the dollar slightly stronger and tentative profit-taking in play. Corn was off 6 to off 7 3/4, soybeans were off 6 to off 13, wheat was off 5 1/4 to off 7 1/4 and oats were off 4 1/2 to off 9 1/2. Corn prices ran into profit-taking with a slow sales pace turning the market bearish. Wheat turned lower with weather viewed as a negative factor and export inspections down sharply from the previous week at 18.88 million bushels. The soybean market turned lower with some price support coming from tropical storm Isaac, which could turn inland and hit growing regions as far north as Tennessee and Illinois. The prices: Corn: Sep 7.94 1/2 off 7 3/4, Dec 8.00 3/4 off 7 3/4, Mar 8.01 1/2 off 7, May 7.95 1/4 off 6. Soybeans: Sep 17.29 3/4 off 7 3/4, Nov 17.18 3/4 off 12 3/4, Jan 17.11 1/4 off 13, Mar 16.30 1/4 off 6. Wheat: Sep 8.62 off 5 1/2, Dec 8.81 1/4 off 7 1/4, Mar 8.92 off 6 1/2, May 8.83 1/4 off 5 1/4. Oats: Sep 3.79 off 9 1/2, Dec 3.87 off 4 1/2, Mar 3.87 off 5, May 3.83 3/4 off 4 3/4.