Grain futures lower Friday

Grain futures closed lower on the Chicago Board of Trade Friday as equities dropped on Wall Street for the fourth consecutive day.

Corn was off 6 1/2 to off 7, soybeans were off 27 1/4 to off 33, wheat was off 11 1/2 to off 11 3/4 and oats were off 3 to off 3 1/2.

Corn futures dropped with forecasts calling for sharp temperature drops for next week in the Midwest. Wheat prices fell despite dry weather stressing the wheat crop in Australia. Soybeans fell with Chinese markets closed for a national holiday.

The prices:

Corn: Dec 3.33 1/2, off 7; Mar 3.46 1/2, off 6 3/4; May 3.55 1/2, off 6 1/2; Jul 3.63 3/4, off 6 1/2.

Soybeans: Nov 8.85, off 33; Jan 8.92, off 32 1/4; Mar 8.95 1/4, off 29 1/2; May 8.93 1/2, off 27 1/4.

Wheat: Dec 4.41 1/4, off 11 1/2; Mar 4.60 3/4, off 11 3/4; May 4.73 1/2, off 11 1/4; Jul 4.85 1/2, off 11 1/4.

Oats: Dec 2.20 1/2, off 3 1/2; Mar 2.34, off 3 1/2; May 2.42 1/2, off 3 1/2; Jul 2.52, off 3.