In India soybean prices opened flat yesterday

In India soybean prices opened flat yesterday. In the cbot the soy complex posted a big fall, as concerns grew over the economic impact of surging coronavirus cases globally, the US harvest pressure and the recent rainfalls in dry soybean growing areas of Brazil. With renewed concerns about coronavirus and the economic impact of surging coronavirus cases globally as well as the impending US election, we may see more volatility in coming days. Also the USDA announced an export sale of 110,000 metric tons of soybeans to Egypt and 120,000 metric tons were sold to unknown destinations by private exporters.

The improvement in the planting areas in Brazil have also fueled weakness in CBOT. In Parana state 61% planting areas complete last weak up by 29% vs prior week and in Mato Grasso 25% areas have been planted till last week. Rains soon predicted in Brazil and Rains in dry soybean-growing areas of Brazil, which competes with the US for soybean export are now weighing on soybean prices. As Brazil crop harvest predicted to begin by mid-January  despite 10 days sowing delay.

Today soybean prices opened flat in the domestic markets in India as arrivals are same as yesterday. Soybeans arrival are reported around 50,000-53,000 metric tons in the domestic markets. In the future exchange soybean prices traded weak by 0.72% & and later recovered in SH and traded high by 1.14% and today it closed at INR 43,260 against yesterday close of INR 42,850.



  State Plant Price (in INR-PMT)*
Madhya Pradesh 42,500-43,500
Maharashtra 42,250-44,000
Rajasthan 42,500-43,000
Rest India 42,500- 43,500
  As per moisture condition *+GST 5%



Market Prices:

The soybean meal prices opened weak by INR200-300 PMT in the domestic markets . The soybean meal prices range INR 32,900-35,500+ GST across India. Reseller are quoting soybean meal prices lower by INR 200-500 PMT.

The Sunflower meal pellet prices opened firm & the importers are quoting the prices in range INR 26,000- 27,000 +GST PMT ex Tuticorin port . Whereas resellers are quoting prices INR26,000-26,200 +GST PMT.

The rapeseed meal prices recovered by INR100 PMT in the domestic markets.


Soybean Meal:

State Plant Price (in INR-PMT)*
Madhya Pradesh 32,900-34,300
Maharashtra 33,700-35,500
Rajasthan 33,500-34,200
Karnataka 34,200-35,000
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 35,700 -35,900+GST
Kandla-FAS (in USD/PMT) 493



Sunflower Meal:

Sunflower Meal Domestic Ex- Location
State Plant Price (in INR-PMT)* Min Protein
Karnataka 21,000-21,300 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 26,000-27,000 35%
Ukraine Origin -Pellets(in INR/PMT) Vizag NQ 35%
*+GST 5% Moral condition


Rapeseed Meal:

Rapeseed Meal Domestic Ex- Location
State Plant Price (in INR-PMT)*
Rajasthan 20,300-20,900
Madhya Pradesh 20,400-20,800
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 20,400-20,500+GST5%
Kandla-FAS (in USD/PMT) 286