Producers of metals, grains and other raw materials rose amid optimism about interest rates. Some investors are placing contrarian bets that the Federal Reserve will not raise rates this year, as widely anticipated.
Rate-sensitive gold futures fell Friday, but were more or less flat for the week, as traders hedged their bets on the likelihood of a rate hike in the coming months.
Grain futures rose after the U.S. Department of Agriculture cut its wheat-production forecast, projecting the smallest amount of wheat grown in the U.S. in over 50 years.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
