Soybeans gain on speculation supplies may tighten

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Associated Press

Posted on March 21, 2013 at 1:02 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.

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

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

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