Summary Box: Grains futures give back some gains day after huge wheat rally; energy tanks
By APFriday, August 6, 2010
Summary Box: Grains futures give back some gains
WHEAT WILTS: Grain prices retreated, a day after news of a ban on Russian wheat exports sent prices soaring to a 2-year high. Commodities traders have stressed that world wheat stocks remain ample despite destroyed Russian crops.
GOLD LUSTER RETURNS: A weak jobs report soured investors on risky assets. Gold, considered a safe haven, closed above $1,200 for the first time since mid-July.
ENERGY TANKS: High unemployment and the prospect of slowing economic growth drove oil and gas prices lower. Energy prices tend to increase with expectations of strong economic growth.
YOUR VIEW POINT
