Soybean rises for third straight day, hits 4-year peak

Soybean prices rose on Thursday for the third straight session, as the US dollar fell against most currencies, and amid dry weather in some South American countries and strong demand from China.

Singapore-based analysts said China is actively buying soybean from the US and Brazil, while the latter is witnessing dry weather.

This comes as China wants to purchase more US farm goods in compliance with the phase-one of the trade deal between the two countries.

The dollar index fell against a basket of currencies by 0.9% to 92.5 points as of 21:16 GMT, after it hit a high of 93.5 and a low of 92.4.

Soybean January futures rose 1.6% to the highest level since July 2016 at $11.10 a bushel, with a day high of $11.12 and a low of $10.82.