Prices for corn, wheat and soybeans are closing higher as a devastating drought continues to crimp supply.
Corn for December delivery is up 16 cents, or 2 percent, to $8.165 per bushel. November soybeans are up 15.5 cents, or 1 percent, to $15.812 per bushel. Investors may be worried about a report Friday from the U.S. Department of Agriculture, which will give updated predictions on production for those and other crops.
Sometimes when corn prices rise, farmers who buy it for livestock feed just switch to wheat, but wheat prices are also rising. On Wednesday, September wheat rose 10.25 cents, or roughly 1 percent, to $8.9925 per bushel.
Prices for key metals like silver and platinum are virtually flat. The price for benchmark oil in New York is down.