SOYBEAN traded at $1339.03, 0.01% up since previous day close. The range bound trading can be seen in Soybean prices since last few sessions amid mixed USD & other global factors. The market waits for the result of U.S Non-farm Payroll data which is to be issued later in this week which remains vital for agri-commodities like Coffee & Soybeans. Besides this, the changing climatic conditions in Argentina increases the production & supplies level of beans & hence, made the commodity less expensive; for Argentina is a major producer of Soybeans. Selling on rallies may be recommended for the day in Soybean since the commodity successfully crossed down the short-term Moving Averages.

COPPER traded at $8548 .3, 0.22% down since previous close. The Copper saw a wide sell-off in the previous sessions against the strong USD after Fitch downgraded the U.S economy’s credit rating from AAA to AA+ which may affect the country’s manufacturing & industrial activities & hence, may reduce the demand of metals. Earlier, the prices surged up amid rise in demand from China; as optimism looms over ongoing Chinese stimulus talks in order to support economic growth. Upcoming U.S NFP data release later in this week may remain significant for commodities. The declining Copper stocks level at (LME) made the commodity expensive. As seen in the chart, the copper slid down to MA (200) which acts as major support level. Wait & watch strategy may be adopted further.