Summary Box: Wheat, corn plunge on larger stocks

AP News
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Posted: Sep 30, 2011 4:07 PM
Summary Box: Wheat, corn plunge on larger stocks

REVISED STOCKPILES: Corn and wheat prices plummeted after a new government report showed U.S. supplies were larger than anticipated. Soybean prices also fell even though stockpiles were lower than expected.

COPPER SINKS: Copper prices fell 2.9 percent after a monthly survey released by HSBC showed China's manufacturing production was stagnant in September. China is a huge importer of the industrial metal.

DOLLAR'S IMPACT: Most commodities were hurt by a stronger dollar. Since commodities are priced in dollars, a stronger dollar makes them more expensive for buyers who use other currencies.