Crude oil for June delivery dropped 58 cents on the New York Mercantile Exchange, settling at $56.41 a barrel. Meanwhile, May corn fell 3.75 cents on the Chicago Board of Trade to finish at $3.6075 a bushel, setting a new six-month low in the process.
Investors have purchased €1.138 billion in six-month Treasury bills from Greece, helping the government with a €350 million gap from a refusal by foreign investors to roll over Greek T-bills. The auction was the first of two set for this month.
Prime Minister Alexis Tsipras says he is optimistic that Greece will make meaningful progress toward renegotiating debt to the EU when talks resume Monday. Greece needs a six-month "bridge" deal to renegotiate its relationship with the EU, Tsipras says.
Crude oil futures hit a six-month high of $62.14 last week. U.S. commercial crude oil inventories declined by 2.1 million barrels to 368.5 million barrels, according to the Energy Information Administration.
After a record-setting six-month decline, consumer spending picked up in January, rising 0.6%, according to the U.S. Commerce Department. Driven largely by pricier food and nondurable items, the increase outpaced the 0.4% increase anticipated by economists.