Soybeans climbed for a second day to the highest level in almost a week on speculation that demand for U.S supplies will increase because of shipping delays in Brazil, set to be the biggest exporter this year.
The contract for delivery in May gained as much as 0.9 percent to $14.33 a bushel on the Chicago Board of Trade, the highest most-active price since March 15. Futures were at $14.31 by 1:26 p.m. Singapore time, up 5.9 percent from an almost seven-month low on Jan. 11.
Grains at Paranagua Port, Brazil’s largest soybeans and corn exports hub, were loaded at half the normal pace this month as rains disrupted operations, the port said yesterday. Loading was halted for 27 days this year because of rain and 73 ships were waiting to load grains and soybeans, it said in a report.
Read all : http://www.bloomberg.com/news/2013-03-21/soybeans-advance-to-one-week-high-on-shipment-delays-in-brazil.html
