SOYBEAN is trading at $1507.03, 0.12% down since previous day close. The gains in Soybean seen earlier in this week turned into losses at end ahead of the outcome of U.S NFP data; for this may affect the US Dollar Index & parallelly the agri-commodities. The fear looms over chances of aggressive interest rate hikes in upcoming Fed meets as hinted by Fed Powell in his testimonial speech; which turned up slightly negative for beans. The fluctuating weather in Argentina; wherein the drought conditions was witnessed may affect the Soybean output & prices. As seen in the chart, the Soybean is trading near lower trend-line of channel pattern & hence, the cautious trading may be recommended for the day.

Natural Gas is trading at $2.568, 0.06% down since previous day close. The Natural gas slid down on Friday despite bearish estimate releases from U.S Energy Information Administration (EIA) on Thursday. The report showed a 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. However, the positive effect failed to reflect the prices as traders’ sentiments ahead of the U.S NFP figures overshadows. The change in climatic conditions in U.S & European regions affects the consumption demand of heating fuels like Natural gas. Wait & watch strategy may be adopted for the day in Natural gas since the commodity is strongly trading at previous lows.