Wheat rises on concern about Argentinian crop

AP News
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Posted: Sep 25, 2013 4:06 PM

Wheat is rising the most in four weeks on concern that frost damaged the crop in Argentina.

A smaller harvest in Argentina would cut the country's exports and reduce the global supply of the grain.

Wheat rose 12.25 cents, or 1.9 percent, to $6.7050 a bushel. That was the biggest increase since Aug. 26.

Soybeans and corn also rose.

In metals trading, all major metal prices increased.

Gold logged the biggest gain, climbing $19.90, or 1.5 percent, to $1,336.20 an ounce, its first rise in four days.

In energy trading, oil fell for a fifth straight day after the Energy Department reported an unexpected increase in U.S. oil and gasoline supplies. Oil dropped 47 cents to settle at $102.66 a barrel. That's the lowest closing price since July 3.