Soybean futures settle higher in American trade

Soybean futures tilted higher in American trade as the dollar index fell according to their inverse relation, which follows a spate of data form the U.S., the world's largest soybean producer and exporter.
 
As of 09:03 GMT, soybean futures due on March 16 rose 0.25% to $981.00 a bushel from the opening price of $978.60, with an  intraday high at $982.00, and a low at $977.40, while the dollar index fell 0.10% to 101.12 from the opening of 101.20.
 
Earlier data from the world's largest economy showed the GDP grew 1.9% in the fourth quarter of last year, same as the advance reading, while missing expectations for a 2.1% growth.
 
GDP prices rose 2.0%, slowing down from the advance reading of 2.1%, while analysts expected no change.

 U.S. goods trade balance registered a deficit of $69.2 billion in January, up from $64.4B in December, and above expectations of $66.0B.
 
Wholesale inventories on the other hand fell 0.1% in January, compared to December's 1.0% rise, and besting expectations of a 0.5% buildup.

Additionally, the S&P House Price Index rose 5.6% in December, compared to a 5.2% rise in November, while analysts expected a 5.3%, rise.

Chicago PMI surged to 57.4 in February from 50.3, blowing past expectations of 53.2.

The CB consumer confidence rose to 114.8 in February from 111.8, beating expectations of 111.3, while finally, Richmond manufacturing index rose to 17 in February from 12, also besting expectations of 10.