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News Summary: Wheat falls on weekend rain forecast

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The Associated Press | October 12, 2012 03:48 PM EST | AP


AG DRAIN: Wheat prices fell 3.3 percent as weekend storms are expected to deliver much-needed moisture to fields in part of the growing region. Wheat also was pressured by fewer export sales last week. Corn and soybean prices also dropped.

SLUGGISH OIL: Oil prices fell after the International Energy Agency predicted a slower pace of growth in demand over the next five years. That tempered some worries about a potential threat to a crucial supply route because of tensions between Syria and Turkey.

WINNERS, LOSERS: Prices dropped for gold, silver, copper and wholesale gasoline. Natural gas rose.