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News Summary: Corn prices slide on export worries

The Associated Press

CORN CRUMBLES: Corn futures fell sharply after traders worried that a drop in export sales last week was the beginning of a new trend. Corn for July delivery settled at $5.7950 Friday, down 22 cents.

WEAK EXPORTS: Export sales of corn fell below 100,000 tons last week, said John Sanow, market analyst at Telvent DTN, a commodity information firm in Omaha. That's the worst showing this year.

GOLD HIGHER: Gold for August delivery rose $8.50 to $1,628.10 an ounce. Traders have been buying safe haven assets ahead of an election in Greece this weekend that could determine whether the country continues using the euro.