AP News

Soybeans rise on hopes for better export demand


The price of soybeans is higher on expectations that U.S. exports could strengthen because adverse weather has affected planting in Argentina and Brazil.

January soybeans rose 23.75 cents to finish Wednesday at $14.7925 per bushel.

Soybean farmers have been coping with either too much or not enough rain in Brazil and Argentina. That has caused planting delays, although forecasts call for better conditions in the days ahead.

Analysts say that could send more buyers to the U.S., but the country's stockpiles are low after drought curbed last summer's production.

Other commodities are mostly higher as positive economic news is tempered by the slow pace of budget talks in Washington.

Prices are higher for industrial metals, natural gas, wheat and corn. Gold and oil fell.


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