Soybeans Advance to Two-Year High as Dollar Weakens on Easing
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Soybeans gained for a third day to a two-year high on prospects for further weakness in the dollar after the Federal Reserve announced plans expand stimulus, boosting demand for commodities as an alternative investments.
The oilseed for January delivery climbed as much as 1.2 percent to $12.895 a bushel, the highest level since Sept. 3, 2008, on the Chicago Board of Trade and traded at $12.8875 at 10:41 a.m. in Tokyo. The contract is set for a fifth weekly gain, the longest winning streak since the six weeks to June 5, 2009.