In India soybean prices opened weak taking cues from CBOT.

In India soybean prices opened weak taking cues from CBOT. Yesterday in CBOT, profit taking was observed in soy complex. Also the news of beneficial weather into the soybean planting areas of Brazil, push the market down. Yesterday Argentina and Brazil were out of action due to national holidays and also at US due to federal holiday there were no export inspections nor USDA flash sales data. Soybean plantings across the Brazil have reached just 3.4% due to sizzling weather and poor soil moisture as farmers waiting for rainfalls. The soybeans planting are the slowest in the decade.

Today soybean prices opened weak by INR 250-500 PMT with arrivals are around 68,000-70,000 metric tons in the domestic markets. Yesterday soybeans arrival were around 74,000-76,000 metric tons in the domestic markets. In SH the soybean prices recovered and traded +ve due to firm prices of oils on coming festivals . The arrivals are low in Maharashtra and expected to improve in next 4-5 days. In the future exchange soybean prices opened weak and traded low by 1.51% and traded high by 0.49% and today soybean prices closed weak at INR 40880 against yesterday close of INR 41,120.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 39,500-40,500
Maharashtra 39,750-41,500
Rajasthan 39,250-40,000
Rest India 39,250- 40,000
  As per moisture condition *+GST 5%

Market Prices:

The soybean meal prices range INR 31,000-35,300+ GST across India.  Reseller are quoting soybean meal prices lower by INR 400-600 PMT.

The Sunflower meal pellet prices opened firm. The importers are quoting the prices in range INR 25,500- 26,000 +GST PMT ex Tuticorin port  & INR 24,300- 24,500 +GST PMT  ex Vizag port. Whereas resellers are quoting prices INR23,700-24,800 +GST PMT.

The rapeseed meal prices remained firm in the domestic markets.

 

Soybean Meal:

State Plant Price (in INR-PMT)*
Madhya Pradesh 31,000-33,000
Maharashtra 32,000-35,300
Rajasthan 32,300-33,000
Karnataka 33,000-34,200
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 33,800 -33,900+GST
Kandla-FAS (in USD/PMT) 470

 

 

Sunflower Meal:

Sunflower Meal Domestic Ex- Location
State Plant Price (in INR-PMT)* Min Protein
Karnataka 18,500-18,700 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 25,500-26,000 35%
Ukraine Origin -Pellets(in INR/PMT) Vizag 24,300-24,500 35%
*+GST 5% Moral condition

 

 

Rapeseed Meal:

  

Rapeseed Meal Domestic Ex- Location
State Plant Price (in INR-PMT)*
Rajasthan 17,700-18,200
Madhya Pradesh 17,600-18,000
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 18,300-18,400+GST5%
Kandla-FAS (in USD/PMT) 261