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News Summary: Corn jumps 3.5 percent on weather

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News Summary: Corn jumps 3.5 percent on weather
Submitted by Fox First at Ten on June 18th

By The Associated Press
HEAT PUNCH: Corn prices jumped 3.5 percent as crops have begun drooping under hot weather across parts of the Midwest. Traders questioned whether the dry conditions will lead to a smaller harvest than previously expected.
SPAIN'S PAIN: Energy and metals contracts were mixed as concerns persisted about Europe's crisis after Spain's borrowing rates rose to levels that prompted other countries to seek emergency bailout funds.
PUMPED UP: Natural gas surged nearly 7 percent as the heat wave in parts of the U.S. raised hopes that utilities will use more fuel to generate electricity for air conditioning systems.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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