Summary Box: Crops fall on warmer weather

AP News
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Posted: Jun 22, 2011 6:05 PM
Summary Box: Crops fall on warmer weather

CROPS DOWN: Corn, wheat and soybean prices fell sharply Wednesday. Reports that warmer weather might emerge in the Farm Belt is easing concerns over a shortage this year.

SPECULATORS: Falling prices have been accelerated by speculative investors who are dumping their contracts.

OIL RISES: Oil prices rose after the Federal Reserve acknowledged that U.S. economic growth has slowed but should pick up again soon. Benchmark crude for August delivery rose $1.24 to settle at $95.41 per barrel.