SOYBEAN traded at $1360.03, 0.03% up since previous day close. The mild recovery can be seen in Soybean prices on Thursday despite strong USD on higher chances of rate hike stance as mentioned by FOMC Minutes. The weekly USDA report showed a drop-down in beans weekly sales & exports level which signals for lesser supplies & hence, made the commodity expensive. On global front, the growing tension between U.S & China & upcoming U.S NFP data event remains vital for agri-commodities. Last week, the changing weather conditions in Argentina which turned favorable for beans plantation & supplies made the Soybean less expensive. Slight buying bias may be recommended in Soybean.

COPPER traded at $8258.3, 0.09% down since previous close. The selling pressure continued to be seen in copper prices amid global cues. The tension between U.S & China escalated as the latter imposes curbs on exports of chipmaking materials to U.S i.e., gallium & germanium; for China is a top consumer of base metals. This subdued the copper prices. The Fed Minutes strengthened the chances of interest rate hike in near future in order to curtail down inflation rate which pushed up the USD & weakened the base metals. Upcoming event of U.S NFP data release will remain significant for commodities. As seen in the chart, the Copper reversed down from short-term MA (10) & MA (20) & MA (200) which indicates slight selling bias on the daily basis.