Wheat gains on forecast for more cold weather

Staff Writer
Columbus CEO

Wheat is climbing on concern that the latest blast of cold weather in the Midwest will damage this year's crop.

The price of wheat for May delivery rose 11.50 cents, or 1.9 percent, to $6.17 a bushel, close to a three-month high.

Wheat has gained 11 percent this month, in part on concern that the harsh winter will harm wheat seedlings in states such as Kansas, Illinois and Indiana.

In other trading of agricultural products, soybeans rose and corn dipped.

Coffee also gained, climbing to its highest level since October 2012. The price of coffee has jumped 60 percent this year.

Most metals rose.

Gold, silver, platinum and palladium all climbed. Copper fell.

In energy trading, the price of oil rose 62 cents, or 0.6 percent, to $102.82 a barrel.