Soybean closes higher on US export data

Soybean prices rose on Monday, despite the US dollar's rise against most of its peers, as the agricultural commodity drew support from upbeat US export data.

The US Department of Agriculture revealed in its weekly report that the US sold 135,000 tonnes of soybean to the Philippines for the marketing year of 2020/21.

The USDA also stated that private US exporters sold 120,700 tonnes of soy to other parties in the marketing season that started on September 1.

The dollar index rose against a basket of currencies by 0.3% to 93.02 points as of 22:18 GMT, after hitting a high of 93.1 and a low of 92.7.

Soybean November futures rose 0.3% to $10.87 per bushel, after hitting a day high of $10.89 and a low of $10.78.