COFFEE traded at $160.72, 0.27% up since previous close. The Coffee prices seems to be reversing earlier losses into gains amid strong technical support. Fundamentally, the mixed USD ahead of the U.S Fed meeting which is to be held in this week with a hope of 25bps rate hike stance made other currencies to trade on higher side & so, do Coffee & Brazilian Real (BRL) currency. Last week, the rise in supplies from Brazil on an account of favourable climatic conditions pushed down the Coffee prices; for Brazil is a top producer of beans. As seen in the daily chart, the commodity tested the major support level of previous lows & formed cluster support. The commodity may breach MA (10) & MA (20) & hence, buying on lower levels may be recommended for the day.

SOYBEAN traded at $1411.03, 0.16% up since previous day close. The Soybean moved on higher side amid steady USD as market waits for upcoming Fed meet which is to be concluded on Wednesday; with a hope of 25bps rate hike stance. Besides this, the China unveiled stimulus measures in order to support economic conditions & hence, boosted the global commodities as well. The changing climatic conditions in Argentina remains vita for Soybean prices; for Argentina is a major producer of beans. Buying on dips may be recommended for the day in Soybean since the commodity successfully reversed upside from MA (200) & is on the verge of testing the MA (100) on short-term basis.