Soybeans gain on South American weather concern

Print
Email
|

Associated Press

Posted on January 16, 2013 at 2:00 PM

Updated Wednesday, Jan 16 at 2:02 PM

Soybeans futures are rising on concern that warmer, drier weather in South America may damage the crop.

The May contract for the grain rose 23 cents to settle at $14.36 a bushel on Wednesday.

Expectations of strong export demand for U.S. grown soybeans also helped push prices higher.

In other trading, wheat and corn futures also edged higher.

Metals trading was mixed. Gold was little changed and copper fell. Platinum and palladium both advanced.

Energy trading was mixed. The price of oil rose on supply concerns and wholesale gasoline rose.

Heating oil and natural gas fell.

Print
Email
|