SOYBEAN traded at $1376.03, 0.14% up since previous day close. The Soybean extended its gains on Wednesday amid soft USD as traders are looking forward to the U.S CPI data release event due today. Also, the U.S weaker than expected NFP figures & FOMC officials’ hint over the chances of a pause in rate hike stance created positive sentiments amongst the traders & investors. Last week, the USDA report showed a drop-down in beans weekly sales & exports level which signals for lesser supplies & hence, made the commodity expensive. As seen in the chart, the Soybean is trading near MA (20) & MA (10) which acts as a crucial level & hence, slight buying bias may be established for the day.

Natural Gas is trading at $2.727, 0.19% up since previous day close. The Natural gas traded on higher side since last two sessions amid rise in demand side from major parts of the world due to chaining weather conditions. Last week, the U.S EIA report showed a build-up in Natural gas inventory levels by 72B higher than expectation 65B which signaled for more supplies & hence, prices subdued to some extent. In the month of June, the commodity tested $2.900 levels amid rise in consumption demand of heating fuels from U.S & European regions. Buying on corrective dip may be recommended for the day in Natural Gas since the commodity successfully took a strong support of short-term MA (10) & MA (20) with heavy trading volume.