Summary Box: Grains, gas fall on demand concerns

AP News
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Posted: May 11, 2011 4:51 PM
Summary Box: Grains, gas fall on demand concerns

GRAINS PLUMMET: Wheat and corn prices sank on a new report that raised questions about whether global demand will erode with rising food and energy costs. Corn supplies are tight globally while wheat stockpiles are more ample but tightening.

ENERGY BLUES: Gasoline futures and oil led most energy products lower after the Energy Department said supplies of both products grew last week while U.S. gasoline demand dropped 2.4 percent.

METALS SINK: Metals used in manufacturing, such as copper and silver, fell after China reported its inflation rate eased slightly in April. Gold also settled lower.