SOYBEAN is trading at $1292.03, 0.04% down since previous day close. The tight range can be seen in Soybean prices since last two days amid mild changes in demand & supply ratio. The changing climatic conditions in Argentina may remain vital for Soybean prices; for Argentina is a top producer of beans. Globally, the Soybean seems to be trading weaker against the strong USD as Fed hinted for hawkish stance with one more rate hike in this year in order to control the stocky inflation rate. As seen in the chart, the Soybean is consistently trading below the short-term MA (10) & MA (20) & MA (100) & also, near the cluster support which indicates a selling pressure if downside breaches the current level.

COPPER traded at $8189.3, 0.01% up since previous close. The mild recovery can be seen in Copper prices after sliding down to lower levels of $8100 in last week amid strong USD after U.S Fed hinted for hawkish stance with the chances of one more interest rate hike in this year. Last week, the Chinese PBoC cut-down its Reserve Requirement Ratio (RRR) by 25bps which may boost the industrial activities & hence, may increases the demand of copper later on since China is a major consumer of base metals. As seen in the chart, although the copper crossed down the cluster support level yet a reversal phase can be expected if sustained the current levels with heavy trading volume. The cautious trading may be seen for the day in copper.