Coffee traded at $186.70, 0.06% up since previous day close. The Coffee prices recovered on Monday after sliding down since previous two sessions amid global cues. The soft USD as traders seems to be digesting the negative effect of hawkish FOMC monetary policy stance led support to Brazilian Real (RL) currency & hence, pushed up the Coffee prices; since this may fetch higher profits to Brazilian farmers while exporting the beans to U.S. Last week, the prices rallied up to recent high levels of $192 amid adverse climatic conditions in Brazil & Colombia lowered down the Coffee production & output levels & hence, made the commodity expensive; for Brazil is a major producer of Coffee. Buying on correction may be suggested for the day in Coffee.

Soybean is trading at $1504.98, 0.16% down since previous close. The Soybean prices slid down heavily on Tuesday amid high possibility of increase in Brazilian output & supplies this year against the slowing output from Argentina. Unfavorable climatic conditions resulted into droughts in Argentina which lowered down the beans production; & hence, pushed up the prices earlier since Argentina is a top producer of Soybeans. The recent USDA report showed same productivity or U.S Soybeans while a slight increase in stocks by 400 thousand tons. Slight selling bias may be established in Soybean since the commodity is expected to test lower trend-line of channel pattern.