This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Soybeans Edge Higher, Wheat Futures Fall

By The Associated Press

The price of soybeans rose Friday as traders anticipate greater demand from China. Wheat and corn futures fell.

Gold and silver fell, but platinum and palladium rose. Energy prices closed mixed.

July soybeans rose 8.75 cents to settle at $13.81 a bushel Friday. July wheat fell 11.25 cents to $6.925 a bushel and July corn fell 4.75 cents to $6.1975 a bushel.

Traders have been picking up soybean futures on signs that demand from China for beans and soybean meal has been increasing, said Brandon Marshall, a commodity trader at Northstar Commodity in Minneapolis.

Marshall said he expected the decline in the price of wheat to be temporary. Unfavorable weather for the U.S. crop, including rain and frost in the Midwest, will likely drive prices higher.

In metals trading, gold for June delivery edged down $8.40 to $1,453.60 an ounce. On Thursday it jumped 2.7 percent, the biggest gain since last June.

Silver for May delivery fell 38.20 cents $23.758 an ounce. Copper for delivery in the same month fell 5.25 cents to $3.1845 a pound.

Palladium for June delivery rose 55 cents to $681.95 an ounce and platinum for July delivery rose $12.40 to $1,476.50 an ounce.

The price of oil slipped after the government reported that the U.S. economy grew more slowly in the first quarter than economists were anticipating. Benchmark oil for June delivery fell 64 cents to $93 a barrel. It's still up nearly $5 a barrel this week.

In other energy trading, wholesale gasoline rose 2 cents to $2.83 per gallon, heating oil was flat at $2.90 a gallon and natural gas lost 2 cents to $4.15 per 1,000 cubic feet.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs