SOYBEAN is trading at $1490.03, 0.12% down since previous day close. The selling pressure can be seen in Soybean prices on Tuesday amid heavy decline in Oil prices; for this may weaken its substitutes like Soybean. On global front, the U.S administration announced measures to limit the consequence of SVB Financial Group crisis which eases down the fear over chances of aggressive interest rate hikes in upcoming Fed meet which may turn up positive for agri-commodities. The fluctuating weather in Argentina; wherein the drought conditions was witnessed may affect the Soybean output & prices. Selling bias may be established in Soybean with the next possible target of $1485-$1480 on daily basis.

Natural Gas is trading at $2.606, 0.09% up since previous day close. The Natural Gas prices recovered on Tuesday after consolidating at lower levels since last few sessions. The rise in demand against the steady supplies led buying bias in the commodity. Last week, the U.S EIA report showed draw-down in Natural Gas inventory levels by 84B higher than expected fall of 76B which indicates more shortage in storage & supplies against the demand. Globally, the changing climatic conditions in U.S & European regions affects the consumption demand of heating fuels like Natural gas. As seen in the chart, the Natural Gas successfully took a strong support of previous lows with heavy trading volumes; indicating the chances of further upside & hence, buying on dips may be recommended.