Summary Box: Wheat prices fall as weather improves

AP News
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Posted: Jun 06, 2011 3:44 PM
Summary Box: Wheat prices fall as weather improves

GRAINS Fall: Corn and wheat prices fell sharply after favorable weather helped crops in the United States and Europe. Corn is in short supply globally and wheat supplies have grown tighter.

OIL-OPEC: Oil prices settled below $100 a barrel ahead of a key OPEC meeting. The Organization of Petroleum Exporting Countries is scheduled to meet Wednesday to debate whether to increase production in an bid to lower prices. The cartel produces about 40 percent of global crude supplies.

METALS GAIN: Gold, silver, copper and palladium all settled higher while platinum fell.