COFFEE traded at $150.72, 0.02% down since previous close. The flat to lower side trading can be seen in Coffee prices since last two sessions amid lower demand against the steady supplies from major producing countries. The change in weather conditions in Brazil leading rise in Coffee production made the commodity less expensive since Brazil is a major producer of coffee beans. On global front, the weak global sentiments amid Chinese PBoC’s dissatisfying move of cutting down key rates lower than expectation led to slight selling bias in major commodities. As seen in the chart, the Coffee is hovering near previous lows which acts as major support level & hence, the cautious trading may be recommended for the day.

SOYBEAN traded at $1347.03, 0.08% up since previous day close. The slight buying pressure can be seen in Soybean prices after consolidating earlier in a week amid mixed sentiments. The steady USD ahead of U.S Powell Jackson Hole Symposium speech which is to be held later in this week made the Brazilian Real (BRL) currency to trade slightly higher & hence, cushioned the bean prices. The changing climatic conditions in Argentina turned unfavorable for Soybean production & pushed up the prices; for Argentina is a major producer of beans. As seen in the chart, the commodity seems to be forming cluster support at MA (10) & MA (20). Slight upside may be seen if sustained the levels.