Soybeans rise after rain brings fear of crop delay

Soybeans futures end higher after rain in the Midwest brings fear of crop delays

Associated Press

Soybeans are rising on speculation that wet weather in the Midwest will delay crop planting.

July soybeans climbed 33 cents, or 2.2 percent, to $15.0925 a bushel Tuesday.

Repeated thunderstorms in the parts of the Midwest have led to between 2 and 6 inches of rainfall in the past several days, according to the Weather Channel.

Corn also rose. The July contract rose 9.25 cents to $6.665 a bushel. Wheat slipped 3.75 cents to $6.9375.

In metals trading, gold and silver prices fell while other futures rose.

June gold fell $7.70 to $1,378.90 an ounce. July silver fell 30.3 cents to $22.193 an ounce.

July copper rose 1.95 cents to $3.315 a pound. Platinum for delivery in the same month rose $9.90 to $1,461.80 an ounce. June palladium rose $30.55 to $757 an ounce.

Energy prices mostly rose. Crude oil rose 86 cents to $95.01 a barrel in New York.

In other trading, wholesale gasoline rose 1 cent to $2.85 a gallon, heating oil climbed 5 cents to $2.91 per gallon and natural gas shed 6 cents to $4.17 per 1,000 cubic feet.

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