Soybeans gain on speculation supplies may tighten

AP News
Posted: Mar 21, 2013 3:26 PM

Soybeans are advancing on speculation that U.S. supplies may tighten as Brazil struggles to ship its beans.

May soybeans rose 29.25 cents, or 2.1 percent, to $14.49 a bushel, gaining for the first day in eight.

The price of soybean contracts has been falling this month on expectations that Brazil will produce a strong crop this year. While the crop has met expectations, delays at ports in the South American country have led buyers to look elsewhere.

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In other agriculture trading, wheat fell and corn edged higher.

Gold and silver rose, while the prices of copper, platinum and palladium fell.