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Soybeans gain on outlook for dry weather

[August 22, 2013]  (AP) -- Soybeans are rising to their highest in two months on speculation that dry weather in the Midwest could impact this year's crop.

November soybeans rose 13.5 cents, or 1 percent, to $13.04 a bushel. That's the highest price since June 19. Concern about dry weather has pushed soybean prices up 8 percent this month.

In grain trading, wheat and corn also rose.

Metals fell. Copper and silver declined the most.

In energy trading, the price of oil slipped $1.26, or 1.2 percent, to $103.85 after the minutes from the Federal Reserve's July meeting suggested that the Federal Reserve appeared to be on track to slow its bond purchases by the end of this year if the economy continues to improve.

[Associated Press]

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