Grains in Chicago down sharply CHICA, Ill., Jan. 12 (UPI) -- Grain futures closed sharply lower on the Chicago Board of Trade Thursday with the U.S. Department of Agriculture setting the tone with a stock report. Corn was off 31 1/2 to off 41, soybeans were off 19 to off 20 1/2, wheat was off 28 to off 36 and oats were off 14 1/4 to off 17 1/2. Corn prices dropped on a USDA estimate of stocks well above expectations at 846 million bushels. Wheat stocks as of Dec. 1 were pegged at 1.65 billion bushels, ahead of trade expectations, but acreage for winter wheat planted for 2012 was 41.9 million acres, compared to expectations of 40.9 million. Soybeans stocks were 42 million bushels above expectations at 2.3 billion bushels. Corn: May 6.11 1/2 off 40, Jly 6.18 1/4 off 40, Sep 6.23 1/4 off 40, Dec 5.80 off 31 1/2. Soybeans: Jan 11.78 1/2 off 19, Mar 11.81/2 off 20 1/2, May 11.92 1/2 off 20, Jly 12.02 3/4, off 19 1/2. Wheat: Mar 6.05 off 36, May 6.27 off 33 1/4, Jly 6.48 off 30, Sep 6.68 1/2 off 28. Oats: Mar 2.84 1/4 off 3/4, May 2.86 1/4 off 3/4, Jly 2.88 1/2 off 17 1/2, Sep 3.93 1/2 off 16.