Summary Box: Corn falls on planting expectations

AP News
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Posted: May 02, 2011 4:39 PM
Summary Box: Corn falls on planting expectations

FALLING GRAINS: Corn prices fell 3 percent on expectations that planting will pick up this week in parts of the western Corn Belt because of drier weather. Wheat and soybeans also fell.

BIN LADEN IMPACT: With the exception of gold and oil, commodities not affected much by concerns about possible extremist retaliation after U.S. forces killed Osama bin Laden Sunday in Pakistan. Gold settled slightly higher while oil fell slightly.

DOLLAR'S EFFECT: Many commodities benefited from a weaker dollar. Since commodities are priced in dollars, a weaker dollar makes them more of a bargain for buyers using other currencies.