(BusinessWeek) – Wheat prices rose Friday for a fifth-straight day, as traders focused on the unfavorable weather impacting Argentina’s crop.
The price of December wheat rose 4.75 cents, or 0.7 percent, to $6.83 a bushel. Wheat prices are at their highest level since mid-July. The last time wheat prices rose five-straight days was early March.
In the rest of the agricultural commodities, prices were mixed.
December corn prices fell 2.75 cents, or 0.6 percent, to $4.54 a bushel, while November soybeans prices rose 3 cents to $13.198 a bushel. Cocoa bean prices, which have risen sharply in the last few months, rose $42, or 1.6 percent, to $2,639 a metric ton.
Metal prices were higher.
Gold rose $15.10 an ounce, or 1.1 percent, to $1,339.20, while silver rose 6.5 cents, or 0.3 percent, to $21.83 an ounce. High grade copper for December delivery was up 2.3 cents, or 0.7 percent, to $3.33 a pound. Platinum for January delivery rose $4.50, or 0.3 percent, to $1,419.20 an ounce, while palladium for December delivery was up $8.35, or 1.2 percent, to $731.80 an ounce
In energy commodities, oil for November delivery fell 16 cents to close at $102.87 a barrel on the New York Mercantile Exchange. For the week, the price declined $1.80 a barrel, or 1.7 percent.
Wholesale gasoline fell 3 cents, or 1.3 percent, to $2.68 per gallon. Natural gas rose 2 cents, or 0.7 percent, to $3.59 per 1,000 cubic feet and heating oil lost 1 cent to $2.99 per gallon.
