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Wheat falls due to rain in southern plains

The Associated PressOctober 30, 2013

The price of wheat is falling as rain in the U.S. southern plains improves the prospects for next year’s crop.

Farmers are now planting wheat that will be harvested in the spring. Good soil moisture gets the crop off to a positive 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.

Silver, gold, copper and palladium all advanced. Platinum fell.

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

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