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Friday biz rail

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Local cash grain

Corn

Tuesday: $3.40-$3.52

Wednesday: $3.38-$3.50

Soybeans

Tuesday: $9.34-$9.61

Wednesday: $9.33-$9.56

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Suit filed over smiley face cookies 

PITTSBURGH (AP) — The cookies may be smiling, but the restaurants are not.

A Pennsylvania chain said in a lawsuit that the smiley face cookies made by a Chicago-based baker are "confusingly similar" to its own trademarked treats.

Homestead-based Eat'n Park seeks to block additional cookie sales by Chicago American Sweet & Snacks Inc.

The Eat'n Park cookies are coated in white icing and use various colors for the eyes, nose and mouth of the smiley face.

Chicago American's cookies are beige and filled with chocolate cream. The smiley's eyes and mouth are brown; it doesn't have a nose.

Eat'n Park has been selling its smiley face cookies since 1985 and has incorporated them into its advertising, menus and logo. It trademarked the cookie design in 1987.

Chicago American didn't immediately respond to a message for comment.

30-yr. mortgage slips to 3.84%

WASHINGTON (AP) — Average long-term U.S. mortgage rates edged slightly lower this week after rising for three straight weeks.

Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage ticked down to 3.84 percent this week from 3.85 percent a week earlier. The rate on 15-year fixed-rate mortgages slipped to 3.05 percent from 3.07 percent.

Last week both rates reached their highest level since mid-March, rising along with the yield on 10-year Treasury notes — reflecting some signs of improvement in the U.S. economy. The unemployment rate dropped last month to 5.4 percent, the lowest since May 2008.

Still, mortgage rates remain low by historic standards. A year ago, the 30-year rate was 4.14 percent and the 15-year was 3.25 percent.

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