Corn falls, soybeans rise on crop report; Gold up

  • Article by: The Associated Press
  • Associated Press
  • September 12, 2013 - 5:05 PM

Corn fell Thursday and soybean futures rose after the government's latest crop report.

Gold and silver fell and energy futures ended higher.

Corn for December delivery fell 6.25 cents, or 1.3 percent, to $4.6625 a bushel after the U.S. Department of Agriculture reported that crop yields were higher than traders had been expecting.

Soybeans for November delivery jumped 37.75 cents, or 2.8 percent, to $13.96 a bushel. The U.S.D.A. reported that demand for soybeans was stronger than analysts believed.

Brandon Marshall, a commodity analyst with Northstar Commodity in Minneapolis, said another reason soybeans fell Thursday was an expectation that supplies could dwindle because of a decline in production.

Gold for December delivery fell $33.20, or 2.4 percent, to $1,330.60 an ounce. Silver for December delivery dropped $1.023, or 4.4 percent, to $22.149 an ounce.

December copper fell 4.7 cents to $3.21 a pound. October platinum fell $30.80 to $1,442.70 an ounce and December palladium edged up $1.60 to $692.80 an ounce.

In energy trading, crude oil for October delivery gained $1.04, or 1 percent, to close $108.60 a barrel on the New York Mercantile Exchange.

Wholesale gasoline rose 5 cents to $2.76 per gallon, natural gas gained 7 cents to $3.64 per 1,000 cubic feet and heating oil added 5 cents to $3.12 per gallon.

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