Soybean closes near two-week highs

Economies.com
2020-03-24 20:13PM UTC

Soybean futures advanced on Tuesday, buoyed by a strong demand for commodities and metals, including farm goods, amid growing hopes about the US huge stimulus package.

 

The US Congress is preparing to vote on a $2 trillion stimulus aid package to support all US companies and families to counter the coronavirus, which will be reflected on all industries.

 

The dollar index fell 0.4% to trade at 102.03 points as of 21:56 GMT, after hitting a high of 102.2 and a low of 101.05.

 

The US Treasury Secretary, Steven Mnuchin, assured that the US is able to eliminate the coronavirus and its impact within 12 weeks, adding that the huge stimulus aid package will ease the impact of the pandemic.

 

Soybean May futures rose 0.2% to close at $8.86 a bushel, after hitting today's high at $8.87 and the low at $8.72.

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