Soy closes flat despite weaker dollar

Soybean prices held steadily on Monday, despite the sharp drop in the US dollar against most currencies, but agricultural commodities were weighed down by the escalating US-China tensions.

China announced recently increasing its purchases of US farm goods in compliance with the first phase of the trade deal, which requires China to buy around $36.5 billion of US farm goods.

The dollar index fell against a basket of currencies by 0.8% to 93.6 points as of 22:16 GMT, after it hit a high of 94.4 and a low of 93.4.

Soybean September futures held at $8.98 a bushel, after hitting a high of $9.02 and a low of $8.95.