Soybean closes lower on global demand concerns

Soybean futures closed lower on Tuesday, on worries over the global demand due to the lingering coronavirus crisis.

Johns Hopkins University announced the number of infections rose to more than 3 million cases worldwide, including 1 million in the US, with a death toll of more than 210,000 victims.

The USDA estimated the plantation of 8% of soybean crops on Sunday, which came in line with most forecasts.

The dollar index fell against a basket of currencies by 0.2% to 99.8 points as of 21:52 GMT, after it hit an intraday high of 100.2 and a low of 99.4.

Soybean July futures fell 0.5% to close at $8.32 per bushel, after hitting a day high of $8.42 and a low of $8.29.