SOYBEAN is trading at $1271.03, 0.21% down since previous day close. The agri-commodities seems to be trading on lower side since last few sessions amid mixed USD. Globally, the hawkish major world’s Central Bank stance over monetary policy & political instability in Russia pressurized the beans prices. The changing weather conditions in Argentina which turned favorable for beans plantation & supplies makes the Soybean less expensive. Last week, the USDA report showed a rise in weekly exports & sales which further subdued the prices. As seen in the chart, the Soybean retreated down till MA (200) & hence, make or break situation can be seen on short term basis.

COPPER traded at $8244.3, 0.12% down since previous close. The flat to lower side trading can be seen in copper prices against the mixed USD as Fed & other Central Bank chiefs hinted for a hawkish stance in future course of time in order to control the inflation rate. The political instability in Russia made the metals to trade on lower side. Last week, the China’s PBoC cuts down its Prime lending Rate (PLR) by 10bps lower than expected rate cut by 15bps which may affect the demand of Copper since China is a major consumer of base metals. As seen in the chart, the Copper seems to be crossed down the long-term MA (200) with heavy trading volume & the ADX line is moving below the level 25. This indicates indecisive trend in copper.