In India soybean prices opened weak today due to profit taking in the future exchange. Whereas in the cbot soybean and soymeal were stronger & rallied and in MDEX also the palm oils traded firm to positive. Yesterday in CBOT soybean prices hit their highest level in more than two and half years due to China demand and slow planting progress in south America. Soybean meal prices were rising and it was a top performer yesterday in CBOT  due to good demand. In Argentina the September month soybean crush was down by 6% vs 5yr average due to slower farmers soybean selling. The export demand for US soybeans are firm & strong. Today is export sales day and once again the trade is expecting to see strong soybean sales.

 

Brazil has precipitation in the forecast and the rainy season should allow for some quick planting progress once weather cooperates but Brazil new crop has been estimated as over 50% sold already. The expectation is that sales will be slower on the remaining volume or at least demand stronger prices.

 

Today soybean prices opened weak by INR 250-500 PMT in the domestic markets due to profit booking in the future exchange.  Soybeans arrival are reported around 68,000-69,000 metric tons in the domestic markets. In the future exchange soybean prices traded low by 1.07% and closed at INR 42,980 against yesterday close of INR 43,090.

State	Plant Price (in INR-PMT)*
Madhya Pradesh	42,000-42,750
Maharashtra	41,750-43,500
Rajasthan	42,000-42,750
Rest India	41,500- 43,000
	As per moisture condition	*+GST 5%

Market Prices:

The soybean meal prices open weak by INR 200-500 pmt in the domestic markets.  The soybean meal prices range INR 33,000-35,500+ GST across India. Reseller are quoting soybean meal prices lower by INR 500-700 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 opened firm in the domestic markets.

 

Soybean Meal:

State	Plant Price (in INR-PMT)*
Madhya Pradesh	33,000-34,400
Maharashtra	33,700-35,200
Rajasthan	34,000-34,800
Karnataka	34,500-35,600
*+GST 5%	Moral condition
Soybean Meal Ex-Kandla Port
Port	Meal Price PMT
Kandla-FOR(in INR/PMT)	35,800 -36,000+GST
Kandla-FAS (in USD/PMT)	498

Rapeseed Meal Domestic Ex- Location
State	Plant Price (in INR-PMT)*
Rajasthan	19,000-19,800
Madhya Pradesh	19,000-19,300
*+GST 5%	Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port	Meal Price PMT
Kandla-FOR(in INR/PMT)	19,100-19,200+GST5%
Kandla-FAS (in USD/PMT)	271