SOYBEAN is trading at $1411.03, 0.12 % down since previous day close. The losses continued to be seen in Soybean prices since last two sessions as demand seems to be slowing down against the rising supplies. Globally, the mixed USD ahead of the release of U.S CPI data which is to be held today will determine the trend in agri-commodities. The change in weather conditions in Brazil may increase the plantation & harvesting of beans in future course of time which may lead to excess supply & hence, causes downfall in Soybean prices. As seen in the chart, although the Soybean took a strong support at previous lows yet it reversed down form resistance level of MA (20). Selling bias on higher levels may be suggested.

Natural Gas is trading at $2.243, 0.12% up since previous day close. The Natural Gas prices seems to be trading above the major support level indicating the reversal from downward momentum. Last week, the U.S EIA report showed a rise in Natural gas storage levels of 54B higher than expectation 51B. This led slight selling pressure earlier. Earlier, the U.S released in-line result as expectation wherein the inventory level rose to 79B from 75B in the previous week. The changing weather conditions in European & US regions affects the consumption demand of heating fuel like Natural gas. As seen in the chart, the commodity is firmly trading above the major support level of $2.00 & hence, buying on dips may be recommended for the day.