News Summary: Wheat prices head up, oil falls

Published June 20, 2012 9:14pm ET



AGRICULTURE IS AN ANOMALY: On a day when prices on many financial markets fell, prices for wheat, corn and soybeans rose. Investors are worried that a hot, dry summer could shrink crop supplies.

METALS FALL: The industrial metals copper, palladium and platinum all shed value on concerns that a sluggish U.S. economy could crimp demand for manufacturing and construction.

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OIL SINKS: Oil prices skidded notably, with benchmark U.S. crude falling to its lowest level since October. The government announced a surprising jump in the U.S. oil supply.

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