News Summary: Ag prices climb as heat wilts crops

Published July 2, 2012 7:53pm ET



HEAT GAINS: Prices for wheat, corn and soybeans rose Monday, extending June’s gains as crops wilted in hot, dry weather. The longer the heat wave lasts, the greater concern that production will be eroded.

MANUFACTURING BLUES: Concerns about economic growth resurfaced after a new report concluded U.S. manufacturing production declined in June for the first time in nearly three years. And China’s manufacturing grew in June at its slowest pace in seven months.

PRICE MOVES: Prices fell for gold, silver, copper and oil. Platinum rose and natural gas was unchanged.