Summary Box: Grains, beans soar on supply worries

AP News
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Posted: Mar 31, 2011 4:21 PM
Summary Box: Grains, beans soar on supply worries

SOARING GRAINS: Corn, wheat and soybeans prices soared after two new government reports did little to ease concerns about global supplies even as demand continues to strengthen.

OIL JUMP: Oil hit a 30-month high during intraday trading as Moammar Gadhafi's supporters were forced to retreat from key areas in eastern Libya. Traders have been concerned about the potential of oil supply disruptions from the Middle East and North Africa.

YEN FOR SAFETY: Gold and silver both rose as some investors sought out more stable assets because of ongoing global uncertainty.