In India soybean opened weak but oil traded firm in the domestic markets. In yesterday cbot, soybean complex traded weak . The soybean failed to hold on to the psychological level of US$10/ bushel as profit taking were observed. Soybean prices remain supported by continued China demand with more fresh cargo sales reported yesterday. The USDA announced two soybean export sales of 132,000 metric ton to China and 132,000 metric ton were sold to unknown destinations. Crop conditions saw a 2% drop to 63% good to excellent conditions and hot conditions have sped along crop maturity with 37% dropping leaves.
In India soybean prices opened weak by INR 200-300 PMT in the domestic markets whereas oil prices remain firm to positive. Today in the future exchange soybean is trading at INR 39,130 against yesterday closed at INR 39,520 and soybean prices traded low by 1.54% but at time of closing the market recovered. It is raining in central India in soy regions and these rains are affecting the new crop soybeans.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 38,750-39,250 | |
| Maharashtra | 39,000-40,500 | |
| Rajasthan | 38,000-39,000 | |
| Rest India | 38,000- 39,000 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices opened weak by INR 200-600 PMT. The soybean meal prices range INR 31,000-34,800+ GST across India.
Importers are quoting the Sunflower meal prices 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. Whereas resellers are quoting cheaper by INR 200-300 PMT i.e. INR23,700-24,000 +GST PMT.
The rapeseed meal prices opened weak by INR 200-300 PMT in the domestic market.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 31,000-32,800 |
| Maharashtra | 32,500-34,800 |
| Rajasthan | 32,000-32,500 |
| Karnataka | 32,200-33,200 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 33,000+GST |
| Kandla-FAS (in USD/PMT) | 460 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | 19,500-19,700 | 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 | 17,100-17,700 |
| Madhya Pradesh | 17,100-17,500 |
| *+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, central Maharashtra, Vidharbha, Marathwada, Telangana , costal AP & costal Karnataka .
Light to moderate rains observed at some areas of north east India, Jharkhand, UP, Uttarakhand, south Rajasthan , Gujarat, other areas of MP, Chhattisgarh, 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, central Maharashtra, Vidharbha, Marathwada, Telangana, costal AP, interior & costal Karnataka & Kerala.
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, Rayalaseema, Odisha & TN.
Excess rainfalls in the soybean grown areas are not good for the present crop.