Soybean closes at 6-year high

Soybean prices rose on Monday, and hit a 6-year high due to concerns over dry weather conditions and strikes in Argentina, in addition to concerns over the new strain of the coronavirus in Britain.

More than 100 shipments of soybean and other agricultural commodities have been suspended in Argentina, as workers continue to strike due to low wages.

Argentina's soybean crops are facing the risks of damage, bad quality and shortages due to the dry weather conditions during this season.

The USDA stated that more than 2.5 million tonnes of soybeans were inspected for export during the week ending on December 17, which is higher by 3.1% from the previous week.

Soybean January futures rose 1.9% and closed at the highest level since the June, 27, 2014 at $12.43 per bushel, after hitting a day high of $12.44 and a low of $12.13.