Coffee traded at 174.80, 0.02% down since previous day close. The range bound trading can be seen in Coffee prices & also, a consolidation phase is formed in the commodity amid mild changes in demand & supply ratio. The Coffee is expected to open on slightly lower side on Monday as USD surges ahead of the U.S CPI data release event. Earlier, the Coffee rallied up to 3-month highs of $180 levels in the amid strong BRL currency since this may fetch higher profit to Brazilian farmers while exporting the beans to U.S. However, the rising consumption demand of Coffee & other agri-commodities from major economies amid better economic stability further pushed up the prices. Wait & watch strategy may be adopted since the commodity is on the verge of breaching the range.

Soybean is trading at $1545.98, 0.08% up since previous close. A sharp rally can be seen in Soybean prices in later half of the last week after USDA report showed a heavy decline in weekly exports & supplies levels of Soybean. The changes in climatic conditions resulting into massive droughts in Argentina turned unfavorable for Soybean production; pushed up the prices since Argentina is a top producer of beans. Earlier, the steady USD post Fed Chair Powell speech with a dovish hint in the future meetings turned up buying factor for commodities while the focus will be on upcoming U.S CPI data release event. Buying on dips may be recommended in Soybean on short term basis.