Soybean closes higher as harvest continues to progress

Soybean prices rose on Tuesday, as the US dollar fell against its peers, after positive data about progress on this year's harvest in the US.

The US presidential election launched today between the current president Donald Trump versus Democratic candidate Joe Biden, and farmers want to determine the upcoming White House policies to support them amid the coronavirus pandemic.

The US Department of Agriculture reported that the current harvesting of corn crops reached 83% and 87% of soybean.

The dollar index fell against a basket of currencies by 0.6% to 93.5 points as of 21:26 GMT, after it hit a high of 94.05 and a low of 93.5.

Soybean November futures rose 1% to $10.62 per bushel, after hitting a high of $10.70 and a low of $10.51.