News Summary: Corn jumps 3.5 percent on weather

AP News
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Posted: Jun 18, 2012 3:31 PM
News Summary: Corn jumps 3.5 percent on weather

HEAT PUNCH: Corn prices jumped 3.5 percent as crops have begun drooping under hot weather across parts of the Midwest. Traders questioned whether the dry conditions will lead to a smaller harvest than previously expected.

SPAIN'S PAIN: Energy and metals contracts were mixed as concerns persisted about Europe's crisis after Spain's borrowing rates rose to levels that prompted other countries to seek emergency bailout funds.

PUMPED UP: Natural gas surged nearly 7 percent as the heat wave in parts of the U.S. raised hopes that utilities will use more fuel to generate electricity for air conditioning systems.