News Summary: Corn rebounds as temperatures rise

AP News
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Posted: Jun 04, 2012 3:56 PM
News Summary: Corn rebounds as temperatures rise

HOT FORECAST: Corn prices rebounded on forecasts calling for hot weather across much of the Midwest. Traders speculated that the higher-than-normal temperatures could cause crop conditions to deteriorate in some states, tightening supplies.

ALL ABOUT DEMAND: Questions about a global economic slowdown are keeping pressure on commodities. There is more evidence that the U.S. economy is weakening. China's economic growth is slowing and Europe is mired in a financial crisis. The combined problems are creating concerns about future demand for commodities.

UP AND DOWN: Prices for oil, natural gas and wheat rose. Gold, silver, soybeans and copper fell.