By The Associated Press
Wheat prices rose Thursday after weekly U.S. exports of the grain rose sharply.
The actively traded May contract rose 11.75 cents to $6.955 a bushel.
Mike Zuzolo, president of Global Commodity Analytics and Consulting, said the gain was driven by a jump in weekly U.S. export sales. The increase of 40 percent over the four-week average caught investors by surprise and brought buyers to the market, Zuzolo said.Other agricultural commodities also rose, but not as much. Corn for May delivery rose 2.75 cents to $6.9125 a bushel and May soybeans rose 7.5 cents to $14.735 a bushel. In metals trading, palladium and platinum rose while other contracts were mixed. Palladium for June delivery gained $19 to $759.05 an ounce. Platinum for April delivery rose $15.30 to $1,595.10 an ounce. April gold edged up 20 cents to $1,575.10, May silver inched up half a cent to $28.8080 an ounce. Copper for May delivery rose 2.75 cents to $3.5205. Crude oil rose the most in two weeks, jumping $1.13 to finish at $91.56 a barrel. In other energy futures trading on the New York Mercantile Exchange, wholesale gasoline slipped 0.14 cent to $3.1233 a gallon, heating oil rose 0.39 cent to $2.9795 a gallon and natural gas rose 11.2 cents to $3.5820 per 1,000 cubic feet.