Soybean futures rise one percent ahead of the weekend

Soybean futures rose nearly one percent as the dollar index fell for the second straight session, following a basket of data from the US, the world's largest soybean producer and exporter, and after markets priced in dry weather in Argentine for a week or two. 

As of 09:31 GMT, soybean futures due on January 15 rose 0.86% to $9.9425 from the opening of $9.575, while the dollar index shed 0.16% to 92.90 from the opening of 93.05. 

Earlier US data showed the ISM Manufacturing PMI down to 58.4 in November from 58.7 in October, while ISM Manufacturing Prices fell as well to 67.0 from 68.5, as construction spending accelerated to 0.5% from 0.3% in September. 

The US Department of Agriculture's chief economic office projected soybean harvest at 91 million acres in 2018, a record high. 

The USDA reported total soybean exports in the week ending November 16 at 869.1 thousand tonnes, down 21% from the previous week, and 45% from the four-week average. 

Otherwise, the US Department of Agriculture reported that 96% of the crop harvest has been wrapped up already so far in the marketing year ending next August, below the five-year average of 97%. 

The USDA's report on global supply and demand for November showed the soybean productivity per donam stabilizing at 49.5 bushels per donam, same as October and slightly above expectations of 49.3 bushels.