Wheat prices rallied on news that the emerging crop is weak after a relatively dry fall, stoking concerns about a supply pinch down the road. The wheat rally came after the U.S. Department of Agriculture released a new estimate late Monday showing that 50 percent of the emerging wheat crop is in fair or poor condition in the 18 states where a majority of wheat is grown. Just 40 percent of the crop was estimated to be in good shape, according to the report. The estimate cemented concerns that a lack of rain in the Midwest will lead to a less-than-average crop, said Analyst Jack Scoville of Price Futures Group. Wheat for December delivery rose 18 cents to $6.92 a bushel. The rally spilled over to other grains contracts, with December corn adding 2.25 cents to $5.71 a bushel and January soybeans gaining 1 cent to $12.31 a bushel. Gold for December delivery fell 30 cents to $1,338.60 an ounce. Silver gained 28.6 cents to $23.830 an ounce. Copper rose 0.6 cents to $3.8690 a pound and palladium rose $16.65 to $625.45 an ounce. January platinum added $9 to $1,702 an ounce. Slight gains by the dollar against the euro made crude priced in dollars more expensive for investors holding other currencies. Benchmark crude for December delivery rose 3 cents to $82.55 a barrel. In November contracts, heating oil fell 0.5 cents to $2.2500 a gallon; gasoline gained 1.67 cents to $2.0940 a gallon. Natural gas gained 3.7 cents to $3.354 per 1,000 cubic feet.

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