Natural Gas is trading at $2.288, 0.09% up since previous close. The slight recovery can be seen in Natural gas after testing almost $2.00 levels on Wednesday amid rising supply concern. The traders are expecting a shortage in gas inventory levels by 60B against the previous fall of 100B which pushed up the prices & may extend the gains if actual comes out as expected. Last week, the U.S EIA report showed a fall of 100B in inventories against expected fall of 97B; how-so-ever failed to lift up the prices. Earlier, the prices traded at multi-year lower levels as Oil showed downward momentum which makes its substitutes weaker. As seen in the chart, the Natural gas is hovering near previous lows; hinting for the breakdown if breached or a strong reversal if sustained the levels.

Soybean is trading at $1534.98, 0.06% down since previous close. The profit-booking can be seen in Soybean prices after rallying up to one-year’s high at $1550 levels on Wednesday. Majorly, the changes in climatic conditions which resulted into droughts in Argentina turned unfavorable for bean production & supplies; & hence, pushed up the prices since Argentina is a top producer of Soybeans. The recent USDA report showed same productivity or U.S Soybeans while a slight increase in stocks by 400 thousand tons. As seen in the chart, the Soybean corrected down till short term MA (10) & MA (20) which acts as major support level & hence, the cautious trading may be recommended for the day.