Corn, soybeans rise on reports of delays in Brazil

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Associated Press

Posted on February 28, 2013 at 3:02 PM

Corn and soybeans are advancing on reports that delays at Brazilian ports are holding up shipments.

Demand for crops from South American growers surged after last year's drought pushed up prices in the U.S. Brazil may now be struggling to make deliveries to meet that demand.

May corn rose 8.25 cents, or 1.2 percent, to close at $7.035 a bushel. Soybeans gained 12.75 cents, or 0.9 percent, to $14.5225 a bushel.

Wheat also edged higher.

Metals fell. The declines were led by silver and palladium.

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