Soybean closes higher on rising US exports
Economies.com
2020-11-09 22:19PM UTC
Soybean prices rose on Monday, despite the dollar’s rise against its peers, lifted by the recovery of US exports and positive news about Pfizer's Covid-19 vaccine.
The American company Pfizer announced that the vaccine candidate developed in cooperation with BioNTech was found to be more than 90% effective in preventing COVID-19.
The US Department of Agriculture reported that US exporters have sold around 130,000 tonnes of soybean to various destinations.
The dollar index rose against a basket of major currencies by 0.6% to 92.8 points as of 22:07 GMT, after hitting a high of 92.9 points and a low of 92.1 points.
Soybean December futures rose 0.8%, and closed at $11.10 per bushel, after hitting a high of $11.19, and a low of $10.99.
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