Grain prices mostly lower in Chicago

Grains closed mostly lower on the Chicago Board of Trade Monday as stocks and oil prices both fell sharply in New York.

Corn was off 16 3/4 to off 17 3/4, soybeans were off 35 1/2 to off 37, wheat was off 32 3/4 to off 33 1/4 and oats were up 1/2 to up 1.

Corn closed down as poultry producer Pilgrims Pride declared bankruptcy Monday. Wheat prices dropped sharply on a report China's crop will yield 15 million metric tons more than 2007. Previously dry soybean areas in Argentina received beneficial rains through the weekend.

The prices:

Corn: Dec 3.32 3/4, off 16 3/4; Mar 3.48 3/4, off 17; May 3.60, off 17 1/4; Jul 3.70 3/4, off 17 3/4.

Soybeans: Jan 8.46, off 37; Mar 8.54 1/4, off 36 3/4; May 8.63 3/4, off 36 1/4; Jul 8.72 1/2, off 35 1/2.

Wheat: Dec 5.09 3/4, off 32 3/4; Mar 5.28, off 33 1/4; May 5.41 3/4, off 33; Jul 5.54 3/4, off 33.

Oats: Dec 2.02, up 1/2; Mar 2.17 1/2, up 1/2; May 2.27, up 1; Jul 2.37 1/2, up 1.