Prices for corn and soybeans fell Thursday, giving up most of Wednesday's gains.
Corn for December delivery fell 1.5 percent, or 11.75 cents, to $7.7625 per bushel. The day before, the price had risen 1 percent.
November soybeans fell 3 percent, or 48 cents, to $15.675 per bushel. On Wednesday they were up 3 percent.
September wheat fell as well, losing 19.25 cents, or just more than 2 percent, to $8.84 per bushel. It was up nearly 3 percent on Wednesday.
Although rain has come to some areas parched by drought, it may not be enough to prevent smaller harvests of corn and soybeans. The Agriculture Department predicted that higher prices for grains will be reflected in the prices that customers pay at the grocery store, perhaps by early next year.
Changes in metals prices were less dramatic on Thursday. Gold, copper, palladium and platinum rose slightly. Silver fell slightly.
August gold rose $7 to $1,615.10 per ounce. September silver fell 2 cents to $27.446 per ounce. September copper rose 1.9 cents to $3.3935 per pound. September palladium rose $4.65 to $569.90 per ounce. October platinum rose $6.20 to $1,405.60 per ounce.
Energy contracts were also up. Like some metals, energy prices can indicate what investors believe about future activity in manufacturing and construction. It's likely that investors were encouraged after the head of the European Central Bank vowed to save the euro, the currency used by 17 countries in a region weighed down by national debts.
U.S. benchmark oil rose 42 cents to finish at $89.39 per barrel in New York after earlier topping $90 per barrel. Brent crude, which is used to price international varieties of crude, rose 88 cents to end at $105.26 per barrel in London after earlier hitting $106.18 per barrel. Heating oil rose 2.45 cents to end at $2.8685 per gallon and gasoline futures rose 2.09 cents to finish at $2.8138 per gallon. Natural gas futures rose 3.5 cents to finish at $3.1050 per 1,000 cubic feet
Source: http://www.seattlepi.com/business/article/Agriculture-prices-fall-metals-energy-rise-3738363.php
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