Summary Box: Corn prices fall as rain hits Midwest

AP News
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Posted: Jul 25, 2011 3:50 PM
Summary Box: Corn prices fall as rain hits Midwest

WET MIDWEST: Corn prices fell after storms delivered rain to crops in parts of the Midwest that had been baking in hot weather. The weather is particularly important this year because corn supplies are at historically low levels and a bountiful crop would ease shortages.

SAFETY PLAY: Investors bought gold and silver as congressional leaders continued debt limit negotiations ahead of an Aug. 2 deadline. The two metals are considered more stable stores of value when there is turbulence in other financial markets.

MIXED BAG: Metals used in manufacturing were mixed. Oil and other energy contracts fell.