Soybeans edge lower as rally fades

AP News
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Posted: Jan 16, 2014 3:44 PM

Soybeans are closing lower for the first day in six after a strong rally driven by stronger demand from China petered out.

The price of soybeans for delivery in March fell 3 cents, or 0.2 percent, to $13.15 a bushel on Thursday. Soybeans are still 2.8 percent higher for the week.

In other agricultural products trading, wheat and corn futures rose.

Metals were mixed. Gold and platinum rose, while silver, copper and palladium fell.

In energy trading, the price of oil fell 21 cents, or 0.2 percent, for $93.96 a barrel.