Stronger dollar and lower oil prices pull Grain futures down

Stronger dollar and lower oil prices pull Grain futures downAccording to the reports, a stronger dollar, lower oil prices and favorable weather ganged up on grain futures on the Chicago Board of Trade Tuesday.

Corn was up off 5 1/2 to off 6 3/4, soybeans were off 10 to up 14, wheat was off 7 to off 8 1/4 and oats were off 6 1/4 to off 7 1/2.

Setting a negative trend early in the day, Corn prices fell as oil prices tumbled overnight.

The report also noted that wheat futures fell with the winter wheat harvest under way in southern Plains states.

As long-term weather forecasts call for cool weather, then rain, beneficial to the emerging crop, soybean prices dropped. (With Inputs from Agencies)