Could Corn Crops Ease Global Shortages Despite Poor Weather?

By: Associated Press and WTVY
By: Associated Press and WTVY

Corn prices are rising as soggy weather continues to create problems for farmers trying to plant crops in key growing states.

Corn settled up 9 cents Wednesday at $7.4225 a bushel. Wheat and
soybeans also rose.

The weather is causing more concern this spring because of hopes
that the U.S. corn crop will be bountiful enough to help ease a global supply shortage.

But planting conditions have been less than ideal in many areas,
raising concern about the potential for the summer harvest.

In other trading, metals used in manufacturing settled higher as investors looked past a weakness in April orders for long-lasting products to the potential for stronger demand in the future.

Prices for oil and other energy products also are higher.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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