Soybeans on track for closing above $10 for first time in four months
2017-07-14 20:29:55 GMT (
Soybeans on track for closing above $10 for first time in four months

Soybean futures rose over one percent in American trade, heading for the first weekly close above $10 since March, while the dollar index tumbled to a ten-month trough, following earlier data from the US, the world's largest soybean producer and exporter. 


As of 08:00 soybean futures due on September 15 rose 1.42% to $10.015 from the opening of $9.875, while the dollar index slid 0.59% to 95.16 from the opening of 95.76, marking the lowest since September 12.


Earlier US data showed consumer prices slowing down on a yearly basis in June, while retail sales fell further unexpectedly last month. 


US industrial production grew more than expected in June, while the Capacity Utilization Rate rose below expectations, as business inventories matched expectations in gains, while the preliminary UoM consumer sentiment survey fell unexpectedly in July. 


Otherwise, the US Department of Agriculture's report on grain exports showed soybean exports fell in the week ending July 6 to 228 thousand metric tonnes, or by 38% from the previous week, and down 19% from the four-week average, while the report designated Egypt as the largest soybean importer last week at 90.4 thousand tonnes, then Indonesia at 86 thousand, and Netherlands at 70.5 thousand. 

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