Summary Box: Corn prices rise on damaged crop

AP News
|
Posted: Jul 26, 2011 4:48 PM
Summary Box: Corn prices rise on damaged crop

DAMAGED CROP: Corn prices rose after the USDA estimated that 62 percent of the corn crop in the 18 states that produce the vast majority of corn in the U.S. is rated "good or excellent." That's down 4 percent from last week and 10 percent from the same time last year.

TIGHT RESERVES: Corn for December delivery rose 12.25 cents to $6.8675 a bushel. Traders are closely following any change in corn yields because reserves are at historically low levels.

METALS RISE: Gold and silver and rose as uncertainty continued over talks in Washington to raise the U.S. debt limit.