Wheat futures rose again Monday as traders remained worried about hot weather. Energy and copper prices rose on positive economic signals from the U.S. and China.
Wheat for July delivery rose 8.75 cents to settle at $7.04 a bushel. Investors have been concerned that hot weather in the U.S. and a drought in Russia could threaten this year's crops. Wheat jumped 16 percent last week.
Other grains were mixed. July corn lost 2.5 cents to settle at $6.33 a bushel and July soybeans rose 7.5 cents to $14.125 a bushel.
Energy prices mostly rose on renewed optimism about the economy.
A survey of business economists found they were more optimistic about the U.S. economy, and in China the premier was quoted as saying the country needed to do more to stimulate growth. That sent the prices of energy and copper higher as traders anticipated that global demand could pick up.
Crude oil rose $1.09 to finish at $92.57 per barrel. Heating oil rose 3.03 cents to end at $2.8603 per gallon and gasoline futures rose 5.06 cents to $2.9401 per gallon.
Natural gas fell as moderate weather in some areas reduced the need for air conditioning. Natural gas dropped 13.3 cents to end at $2.609 per 1,000 cubic feet.
Gold and silver edged lower while other metals rose.
June gold fell $3.20 to $1,588.70 an ounce, and July silver lost 39.40 cents to end at $28.321 an ounce.
July copper rose on the China news, gaining 3.35 cents to $3.502 per pound. July platinum rose $2.20 to $1,461.50 an ounce and June palladium rose $7.20 to $610.80 an ounce.
