Wednesday, August 27, 2008

Soybean prices fall on stronger dollar

NEW YORK (AP) - Soybean prices fell slightly Tuesday, dropping below $13.45 a bushel after the dollar gained against the euro and weakened demand for commodities as an inflation hedge.

Soybeans for November delivery fell 2.5 cents to settle at $13.445 a bushel on the Chicago Board of Trade.

A stronger dollar usually encourages investors to sell commodities, which are often bought as hedges against inflation or weakness in the U.S. currency.

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