Soybean continues to rise on robust Chinese demand

Soybean futures rose on Friday, as the US dollar fell against most currencies, lifted by China's strong demand for US agricultural goods.

Private Chinese companies boosted their imports of US corn, soybean and wheat, within the Phase-One trade agreement that was signed in mid-January.

Investors are focusing on the weather conditions in the central and western regions of the US, which encompass vast areas of grains and and other crops.

The drought in some areas in the US has caused uncertainty about the quality and availability of soy and corn crops this season.

The dollar index fell against a basket of currencies by 0.4% to 95.9 as of 21:44 GMT, after it hit a high of 96.3 and a low of 95.9.

Soybean futures (due August) rose by 0.5% to close at $8.98 a bushel, after hitting a day high of $8.98 and a low of $8.92.