Soybean is trading at $1527.98, 0.01% up since previous close. The flat to higher side can be seen in Soybean prices as mild changes can be seen in demand & supply ratio. The USDA report showed a heavy decline in weekly exports & supplies levels of Soybean which remained bullish for prices. Besides this, the changes in climatic conditions resulted into massive droughts in Argentina which turned unfavorable for Soybean production; pushed up the prices since Argentina is a top producer of beans. The Fed’s monetary decision will impact the agri-commodities later on. Buying on dips may be seen in Soybean on short term basis since the commodity is still trading above the short term Moving Averages.

Natural Gas is trading at $2.470, 0.09% down since previous close. The Natural gas prices slid down on Thursday ahead of the release of U.S Energy Information Administration (EIA) report which is expected to show a draw-down of 97B of Natural gas inventories much lower than previous fall of 217B. If actual releases out same as forecasts, further downside can be witnessed in the commodity. On global front, the strong U.S NFP data arouses the chances of rate hikes in the next Fed meeting & hence, USD strengthened & global commodities softened. The climatic changes in European regions & U.S may affect the consumption demand of heating fuels. As seen in the chart, the Natural gas is still hovering near previous lows hinting the cautious trading approach for the day.