Summary Box: Wheat rally breaks as rains hit US over weekend; Industrial metals gain
By APMonday, July 26, 2010
Summary Box: Wheat rally breaks as rain hits US
RAIN SWAMPS WHEAT RALLY: Heavy weekend rains in the U.S. put a damper on wheat prices, which have been running up steadily since early June.
METALS RISE ON: Metals prices continued to rise as economic data in the U.S. came in better than expected and FedEx Corp. raised its outlook. Investors also seemed reassured by the results of the stress tests of European banks.
EXCEPT FOR GOLD: Investors use gold as a safety asset when they feel uncertain about the economy’s health. Gold fell Monday as stocks and industrial metals rose.
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