Summary Box: Grain and bean prices fall on concerns oil spill could cut off shipping lanes

By AP
Monday, May 3, 2010

Summary Box: Grains fall on oil spill concerns

OIL SPILL: An oil spill in the Gulf of Mexico was hurting prices of wheat, corn and soybeans. Contracts for energy, lean hogs and live cattle also got a boost because of the spill.

GRAINS GROUND DOWN: Wheat and corn prices fell because of worries that a major shipping lane in and out of the Mississippi River could be shut down, disrupting exports.

PIGS, CATTLE HEAT UP: Hog and cattle prices rose because demand is likely to go up for them as supply of fish drops. Major fishing grounds in the Gulf are closed.

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