Soybean posts fifth straight weekly gain

Soybean futures rose on Friday, and posted the fifth straight weekly gain, lifted by increasing Chinese demand

While the US Department of Agriculture will release later its report on output levels, harvest season, exports and sales.

Soybean futures contracts gained 1.2% this week, thanks to strong purchases from China.

Beijing is seeking compliance with the phase-one of the trade agreement that was signed by the two countries on January 15.

The agreement stipulate that China buy around $36.5 billion worth of US farm goods within the first year of the trade pact.

The dollar index held against a basket of currencies at 93.3 points as of 20:12 GMT, after it hit a high of 93.3 and a low of 93.1.

Soybean November futures rose 2% to close at $9.96 a bushel, after hitting a day high of $9.98 and a low of $9.75.