Soybeans Gained amid Planting Delays in South America

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Source: Bloomberg
© Scanpix/AFP
Soybeans advanced to the highest in two weeks in Chicago amid speculation that bad weather conditions in South America will restrain production. Brazil's planted soybean crop is 7% less than in 2011, while in Argentina only 37% of the crop was planted, 14% less than last year. The contract for January-delivery soybeans gained 0.7% and was settled at $14.3525 a bushel, 20% lower than the record $17.89 settled on September 4.
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