In India soybean opened firm taking cues from International markets but later on some profit booking was observed. In yesterday cbot, the soybean continued rally as strong demand from China pushed the soybeans prices towards a two-year high. The USDA confirmed fresh sales of 129,000 metric ton of soybeans to China and 318,000 metric ton were sold to unknown destinations. In soybean the basis remains the firm as the strong demand is continued & in CBOT soybean futures are looking to extend their rally. In MDEX also oils traded firm to positive.
In India soybean prices opened firm in the domestic markets. Today in the future exchange soybean is trading at INR 39,450 against yesterday closed at INR 39,730 and soybean prices traded low by 2.14% but at time of closing the market recovered. The new crop soybeans harvest are affected by rainfalls in MP & Maharashtra.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 38,750-39,500 | |
| Maharashtra | 39,000-40,750 | |
| Rajasthan | 38,250-39,000 | |
| Rest India | 38,250- 39,250 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices opened firm. The soybean meal prices range INR 31,500-35,000+ GST across India.
Sunflower meal prices remain firm. The Sunflower meal pellet prices quoted by importers are in range INR 24,500- 25,200 +GST PMT ex Tuticorin port & INR 24,500-25,200+GST PMT ex Vizag port. Resellers are quoting INR24,000-24,200 +GST PMT.
The rapeseed meal prices remain firm in the domestic market.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 31,500-33,000 |
| Maharashtra | 32,800-35,000 |
| Rajasthan | 32,500-33,000 |
| Karnataka | 32,600-33,800 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 33,500+GST |
| Kandla-FAS (in USD/PMT) | 465 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | 20,000-20,300 | 26% |
| Karnataka | NQ | 32% |
| *+GST 5% | Moral condition | |
| Sunflower Meal Ex- Tuticorin & Vizag Ports | ||
| Port | Meal Price PMT | Min Protein |
| Ukraine Origin -Pellets(in INR/PMT) Tuticorin | 24,500-25,200 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | 24,500-25,200 | 35% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 17,200-18,000 |
| Madhya Pradesh | 17,400-17,700 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 17,500-17,600+GST5% |
| Kandla-FAS (in USD/PMT) | 250
|
Weather
In the last 24 hours, moderate to heavy rainfall observed at WB, Sikkim, Assam, AP, north east Bihar, south west MP, Vidharbha, Marathwada, Telangana & costal AP .
Light to moderate rains observed at some areas of north east India, Jharkhand, UP, Uttarakhand, south Rajasthan , Gujarat, other areas of MP, Chhattisgarh, central Marashtra, Rayalaseema, interior & costal Karnataka, TN & Kerala.
A cyclonic circulation is seen over Bay of Bengal, Gujarat & AP
Within next 24 hours moderate to heavy rainfall may be expected over northeast India WB, Sikkim, Assam, Bihar, south west MP, Vidharbha, Marathwada, Telangana, costal AP, interior & costal Karnataka & TN
Light to moderate rainfall may be expected over north east India, Jharkhand, UP, Uttarakhand, south east Rajasthan, Gujarat, most of the other area of MP, Chhattisgarh, central Maharashtra, Rayalaseema, Odisha & Kerala.
Excess rainfalls in the soybean grown areas are not good for the present crop.