Soybean Prices Fall as Supplies Hit Marketplace
Associated Press -- October 3, 2012 -- The price of soybeans has hit the lowest level in nearly three months as a fast-paced harvest delivers more supplies to the marketplace.November soybeans fell 29.75 cents to finish Tuesday at $15.305 per bushel. That's the lowest price since July 12.
The price for the protein-rich bean hit an all-time high of $17.7025 per bushel in late August on concerns that the drought damaged the crop. But early harvest reports show yields have been better than expected.
Farmers now want to get their beans to buyers because demand remains strong, particularly from overseas buyers.
Other commodities are mixed as concerns about Europe's debt crisis outweigh positive economic news in the U.S.
Prices are higher for copper, corn and natural gas. Gold, oil and wheat are lower.
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