Summary Box: Corn surges as heat stresses crops

AP News
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Posted: Aug 02, 2011 3:37 PM
Summary Box: Corn surges as heat stresses crops

PRICES SIZZLE: Corn surged 4.4 percent as hot weather continued to stress crops in four top producing states: Iowa, Illinois, Indiana and Nebraska.

RISING GOLD: Gold closed above $1,644 an ounce for the first time as investors sought a hedge against currency movements and uncertainty over the pace of economic growth. The price is still below the peak gold reached in the early 1980s after accounting for inflation.

DEMAND FEARS: Oil, other energy products and industrial metals fell on concerns that a slowing economy could hurt demand.