Wheat gains on cold weather concern

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Associated Press

Posted on January 23, 2014 at 2:01 PM

Wheat is rising the most in three months amid concern that cold weather in the Plains region will damage the crop.

The price of wheat for March delivery rose 8.75 cents, or 1.6 percent, to $5.70 a bushel, the biggest one-day gain since Oct. 18.

In other agricultural products trading, corn rose and soybeans fell.

In metals trading, gold rose as the dollar fell.

Gold for February delivery climbed $23.70, or 1.9 percent, to $1,262.30 an ounce, its highest price of the year.

Silver and platinum also rose. Copper and palladium fell.

The price of U.S. benchmark crude oil rose 59 cents to $97.32 a barrel.

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