SOYBEAN traded at $1357.03, 0.21% down since previous day close. The profit-booking can be witnessed in Soybean on Monday amid steady USD as market waits for the result of U.S Non-farm Payroll data which is to be issued later in this week. The soft USD after Fed followed an expected move of 25bps interest rate hike & stated the lesser possibility of recession hitting the U.S economy; made the agri-commodities to trade on positive note. The changing climatic conditions in Argentina remains vital for Soybean prices; for Argentina is a major producer of beans. Selling on rallies may be recommended for he day in Soybean since the commodity successfully crossed down the short-term Moving Averages.

COPPER traded at $8640.3, 0.02% up since previous close. The Copper trades flat on Monday as China issued mixed PMI figures; which may limit the consumption demand of copper since China is a major consumer of metals. Optimism looms over ongoing Chinese stimulus talks in order to support economic growth which may turn out to be supportive for copper prices. The steady USD on account of Fed’s expected move of 25bps rate hike stance & upcoming U.S NFP data release event may remain significant for metals. The declining Copper stocks level at (LME) made the commodity expensive. As seen in the chart, the Copper is expected to take a support of MA (10) & hence, buying on lower side may be suggested for the day.