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News Summary: Commodities fall on China forecast

The Associated Press
Monday, 8 Oct 2012 | 4:45 PM ET

ECONOMIC DRIFTS: Most commodity prices fell after a forecast of slower growth in China ramped up concerns about the global economy. Gold, industrial metals, oil and soybeans all finished lower. One bright spot was natural gas, which rose.

GLOBAL GLOOM: The World Bank cut its growth forecast for China, citing weak global demand. Meanwhile, European finance ministers met as unrest continued in Greece and Spain over austerity cuts.

MIXED CROPS: Prices for corn and soybeans fell while wheat rose ahead of the government's next update on global supplies and demand, which is due later this week.