COFFEE is trading at $186.28, 0.02% up since previous close. The Coffee prices showed a mixed momentum in the previous session; however, the commodity is expected on higher side on Thursday amid steady US Dollar Index. The tension over U.S debt-ceiling issue seems to be fading away after U.S President Biden said to sign out agreement to raise the ceiling limit this week. This can make Brazilian Real (BRL) currency & Coffee prices volatile since the Brazilian farmers may fetch lower profits while exporting the beans to U.S & vice-versa. Earlier, the risk of lesser supplies from Colombia due to the changing climatic conditions made the Coffee expensive; for Colombia is the world’s second largest bean producer. Slight buying may be recommended for the day in Coffee.

SOYBEAN is trading at $1334.03, 0.06% down since previous day close. The downward momentum seems to be extended in Soybean on Thursday on account of rising supplies against the steady demand across the globe. The recent weekly USDA report showed a rise in exports & supplies for the week which turned out to be negative for prices. Globally, the mixed USD over U.S debt ceiling limit hike remains significant for beans & other agri-commodities. The change in weather conditions in Brazil may increase the plantation & harvesting of beans in future course of time which may lead to excess supply & hence, causes downfall in Soybean prices. Selling bias on higher levels may be suggested in the commodity.