Soybeans advanced Thursday 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 are leading buyers to look elsewhere.

"It looks like we've got some commercial buying in beans, that's helping to provide support," said Darin Newsom, a commodities analyst at DTN.

In other agriculture trading, May wheat fell 7.25 cents, or 1 percent, to $7.2875 a bushel. Corn for delivery in the same month edged higher, gaining 0.5 cent to $7.33 a bushel.

Trading in metals was mixed.

Gold for April delivery rose $6.30 to $1,613.80 an ounce.

Silver for May delivery rose 39.5 cents to $29.212 an ounce while copper for the same month declined 1.15 cents to $3.4350 a pound.

Platinum for April delivery fell $2.40 to $1,580.10 an ounce. Palladium for June delivery fell $1.35, or 0.2 percent, to $756.85 an ounce.

In energy trading benchmark oil for May delivery dropped $1.05 to finish at $92.45 a barrel, as the financial crisis in Cyprus overhung the market.

Wholesale gasoline fell 5 cents to $3.07 a gallon. Heating oil rose less than a cent to $2.90 a gallon. Natural gas fell 2.5 cents to $3.935 per 1,000 cubic feet.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel