Summary Box: Corn falls on improving crop report

AP News
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Posted: Jun 14, 2011 4:04 PM
Summary Box: Corn falls on improving crop report

EYES ON CORN: Corn prices fell sharply after a spell of warmer weather left more than two-thirds of the crop in good condition. Investors speculated about the potential for a bumper crop that could ease a global supply shortage.

IMPROVING WHEAT: Wheat fell as investors considered improving conditions for crops in some European growing regions. About 68 percent of the U.S. spring wheat crop was in good-to-excellent condition, compared with 86 percent at this time in 2010.

COPPER'S GLEAM: Copper prices settled up 3 percent after China said its industrial output rose 13.3 percent in May. China is a huge buyer of copper.