News Summary: Corn Drops On Ethanol Supply Gain

By The Associated Press

CORN FIZZLES: Corn fell after the government reported a build in fuel ethanol inventories. That suggests demand for corn may slow in the months ahead.

JUMPING JUICE: Orange juice futures rose on concerns that a winter freeze could hurt Florida's crop. The government has predicted that production will fall after next year's harvest.

FISCAL WALL: Other commodities were mixed as U.S. budget negotiations appeared to stall with less than two weeks left before tax hikes and government spending cuts take effect. Prices rose for oil and orange juice. Gold and industrial metals fell.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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