News Summary: Corn rises on hints of strong demand

AP News
Posted: Jan 07, 2013 5:56 PM

CORN ORDER: Corn rose after the Agriculture Department disclosed an unusually large order of four million bushels. Brandon Marshall, commodity adviser with Northstar Commodity in Minneapolis, said that encouraged traders to buy corn futures. Corn for March delivery rose 5 cents to settle at $6.86 a bushel.

JUMPING BEANS: The March contract for soybeans rose 21 cents to settle at $13.89 a bushel. Soybeans have been falling since mid-December, when they went as high as $15 a bushel.

METALS: Most metals fell. Gold fell $2.60 to settle at $1,646.30 an ounce and copper lost 1.55 cents to $3.6780 a pound.