News Summary: Rain pushes grain prices lower

AP News
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Posted: Jun 13, 2012 3:55 PM
News Summary: Rain pushes grain prices lower

PARCHED CROPS: Growing regions in large parts of the Plains states have had unusually low rainfall recently, leading commodity traders to push up contracts for grains and beans in anticipation of tight supplies.

RAINY PLAINS: Rain has finally been arriving in some of those regions and more is forecast. July soybeans fell and most corn contracts did too.

MIXED METALS: Metals settled little changed. Gold, copper and platinum rose while silver and palladium fell.