News Summary: Commodities jump across the board

AP News
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Posted: Jun 06, 2012 4:10 PM

SUNNY SKIES AHEAD: Prices for wheat, corn and soybeans jumped, helped by reports that the weather will be warm and dry for the next two weeks, a crucial period for U.S. planting.

SILVER LINING: Industrial and precious metals both rose. Silver, which can be classified as either, led the rally, jumping 4 percent.

OIL TURNS AROUND: Benchmark oil rose 73 cents to $85.02 per barrel in New York. That's a change from previous weeks; oil has fallen nearly 23 percent from the year's high of $109.77 in February.