SOYBEAN is trading at $1410.03, 0.02 % up since previous day close. The sideways trading can be seen in Soybean amid mild changes in demand & supply ratio. 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. On global front, the mixed USD amid mixed chances of interest rate hike in FOMC’s meet will remain vital for Soybean since this may affect Brazilian Real (BRL) currency. Selling on pullback rallies may be recommended for the day in Soybean as the commodity is expected to show a strong breakdown below the level $1400.

COPPER is trading at $8589.3, 0.16% up since previous close. The Copper prices recovered from lower levels of $8500 with heavy trading volume amid soft USD ahead of the outcome of FOMC meeting with a focus on monetary decision which is to be held in the month of May will remain vital for metals. Also, the positive global sentiments make the industrial metals promising. The stocks level of Copper at London Metal Exchange (LME) declines for the day which made the commodity expensive. As seen in the chart, the Copper slid down below MA (100); how-so-ever, hovers at previous lows of $8500 which acts as a major support level since it forms double bottom. Reversal may be expected in copper as the commodity seems to be taking a support of previous lows.