You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Column: Hog prices grind lower
    Hog producers have been able to offset animal losses by fattening up the remaining hogs on inexpensive corn.
  • GM boosted June sales with discounts to dealers
    As General Motors prepares to report monthly sales results on Friday, a look its numbers from June show just how intent the company is on keeping new-car sales on the rise during a record spate of safety recalls.
  • Target taps outsider as next CEO
    NEW YORK – Target is bringing in an outsider as its CEO for the first time as the retailer fights to redefine itself to American shoppers.
Advertisement

Wheat falls due to rain in southern Plains

The price of wheat fell Wednesday as rain in the southern U.S. Plains improved the prospects for next year's crop.

Farmers are planting wheat that will be harvested in the spring. Good soil moisture helps the crop develop before it goes dormant during the winter months.

"Soil moisture levels across much of the southern Plains are much better than they have been," said Todd Hultman, a grains analyst at DTN. "It's getting this year's crop off to a good start."

Wheat for December delivery fell 6.25 cents, or 0.9 percent, to $6.75 a bushel.

In other trading of agricultural products, corn fell 1.8 cents, or 0.4 percent, to $4.30 a bushel. Soybeans rose for the first time in five days. The price rose by 5.75 cents, or 0.5 percent, to $12.76 a bushel.

Major metals advanced.

December silver rose 49.1 cents, or 2.2 percent, to $22.98 an ounce. Gold for the same month gained $3.80, or 0.3 percent, to $1,349.30 an ounce. Cooper for December rose 4.75 cents, or 1.4 percent, to $3.33 a pound.

December palladium closed up $2.45, or 0.3 percent, to $749.50 an ounce. Platinum for January rose $18, or 1.2 percent, to $1,479.90 an ounce.

The price of oil fell more than $1 a barrel Wednesday as the U.S. government reported another big increase in crude oil supplies.

Benchmark U.S. crude for December delivery dropped $1.43, or 1.5 percent, to $96.77 a barrel.

In other energy futures trading, wholesale gasoline rose 4 cents to $2.65 a gallon. Heating oil rose 1.5 cent to $2.98 a gallon. Natural gas fell 1 cent to $3.62 per 1,000 cubic feet.

Advertisement