Corn, wheat futures rise following Midwest storms

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Associated Press

Posted on October 8, 2013 at 12:00 AM

Updated Tuesday, Oct 8 at 12:02 AM

Wheat and corn futures are rising after storms in the Midwest over the weekend threatened both crops.

Wheat for December delivery rose 7.75 cents to $6.9475 a bushel Monday and December corn rose 6 cents to $4.4925 a bushel.

Weekend storms delayed the corn harvest and also caused delays in planting winter wheat, said Todd Hultman, a grain analyst with DTN/The Progressive Farmer in Omaha, Neb.

In other commodities trading, crude oil fell 81 cents to close at $103.03 a barrel in New York. Production in the Gulf of Mexico got back on track after a storm system passed through the area.

Metals prices mostly rose, with December gold up $15.20 to $1,325.10 an ounce.

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