Soybeans, copper futures drop on China slowdown



Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

Soybean futures are sharply lower following news of a slowdown in Chinese trade.

The actively traded May contract for soybeans fell 39 cents, or 2.7 percent, to $14.19 a bushel Monday.

China is a major buyer of U.S. soybeans, and any hint of a slowdown there tends to push prices of the crop lower.

China reported over the weekend that its exports slumped 18 percent last month, far more than economists were expecting.

The report also sent copper prices lower since China is also a big importer of the industrial metal. Copper for delivery in May fell 5 cents, or 1.7 percent, to $3.03 a pound.

Energy futures closed mostly lower. Crude oil fell $1.46 to $101.12 a barrel.

Gold edged up $3.30 to $1,341.50 an ounce.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast