Summary Box: Corn falls on Argentina rain forecast

AP News
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Posted: Jan 05, 2012 4:04 PM
Summary Box: Corn falls on Argentina rain forecast

RAIN AID?: Corn prices fell after new forecasts predicted rain in Argentina, where the crop has already been damaged by hot, dry weather. Investors speculated that the potential for significant rainfall could help stave off additional damage while the corn is pollinating.

ECONOMIC MIX: Other commodities were mostly lower as renewed worries about Europe's crisis overshadowed a positive U.S. jobs report. Oil and industrial metals fell while gold and silver rose.

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