SOYBEAN traded at $1397.03, 0.24% up since previous day close. The flat to higher side trading can be seen in Soybean prices on account of multiple global factors. On positive note, the China boost as effort to boost up the economic conditions which might turned out to be supportive for Oil & its substitutes. However, the FOMC Jerome Powell hinted for hawkish monetary stance in his latest speech which might turn out to be negative for agri-commodities. Earlier, the changing climatic conditions in Argentina turned out to be unfavorable for Soybean production & pushed up the prices; for Argentina is a major producer of beans. Buying on corrective dips may be recommended for the day in Soybean.

COPPER traded at $8350 .3, 0.06% down since previous close. The profit-booking can be seen in copper prices since last two sessions against the strong USD as Fed Powell hinted for more rate hikes in future course of time in order to control the inflation rate at Jackson Hole Symposium speech held last week. On weekend, the China announced new measures to support the stock market & property sector which might increases the consumption demand of copper since China is a major consumer of base metals. As seen in the chart, the Copper took a support of previous lows & formed double bottom; still seems to be resisting the crucial level of MA (100). Wait & watch strategy may be build-up for the day in copper.