Wheat falls after genetically modified grain found

AP News
Posted: May 30, 2013 4:35 PM

The price of wheat is ending lower after genetically modified wheat was found in a field in Oregon.

No genetically engineered wheat has been approved for U.S. farming. The discovery of the grain in an Oregon field, which wasn't designated for sale, caused traders to worry that more of the unapproved grain might be found.

Wheat for July delivery fell 4 cents to $6.9875 a bushel.

Other crop futures decline. Corn lost 10.75 cents to $6.5425 a bushel and soybeans fell 6 cents to $14.9575.

Metals prices rose. Gold ended up $20.20 at $1,411.50 an ounce. Silver rose 23.7 cents to $22.69 an ounce.

Energy prices were mixed. The price of oil ended up 48 cents at $93.61 a barrel. Wholesale gasoline rose. Heating oil and natural gas prices fell.