Summary Box: Corn, beans soar on supply forecast

AP News
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Posted: Mar 30, 2012 4:42 PM
Summary Box: Corn, beans soar on supply forecast

POPPING PRICES: Corn and soybeans soared on signs that supplies could remain tight even as demand continues to strengthen. The Agriculture Department said corn stockpiles are about 8 percent less than a year ago and soybean stockpiles are up about 10 percent. Together with planting estimates, analysts said that could mean both crops could be in short supply into 2013.

WHEAT GAINS: Wheat inventories fell 16 percent from a year ago. Planting estimates increased just slightly as some farmers opted to plant either corn or soybeans instead.

MIXED BAG: Gold, copper and oil rose. Gasoline and natural gas fell.