COFFEE is trading at $183.98, 0.08% up since previous close. The higher closing can be noticed in Coffee prices against the mixed USD as traders remain cautious ahead of FOMC meeting due to be held next week. The comments from few Fed officials over a pause in interest rate hike for the June meeting & progressive clearance of debt ceiling bill after being signed by U.S President Joe Biden created positive sentiments & the turned out to be positive for Brazilian Real (BRL) currency & Coffee prices. Last month, the change in climatic conditions in Brazil turning favorable for Coffee production subdued the prices since Brazil is a major producer of beans. A strong breakout may be seen if Coffee breaches the MA (10), MA (20) & MA (100) on higher side & hence, buying bias must be seen.

SOYBEAN is trading at $1357.03, 0.06% up since previous day close. An upside maintained in Soybean prices amid mixed global sentiments as consumption demand rises from major consuming countries. The frequent changes in weather conditions in Argentina affects the beans plantation & supplies which makes the commodity highly volatile. Majorly, the soft USD on account of signing up of US debt ceiling bill into law led buying bias in commodities. However, uncertainty prevails over U.S FOMC meet although Fed officials hinted for a pause in interest rate process in the June Fed meeting. As seen in the chart, the Soybean sustained the major support of MA (200) which signals for buying bias on lower side on daily basis.