In India soybean prices opened weak yesterday

In India, soybean prices opened weak yesterday

and profit booking was observed in the future exchanges. Yesterday in CBOT soy complex initially surge to new high and later market came down due to profit booking by Fund. USDA weekly export inspections report showed 1.306 million metric tons of soybeans shipped on the week ending 31st Dec. 2020. The soybean exports were reported at 1.416 billion bushel by 31st Dec.2020. The soybean crush reported 5.198 million metric tons down from all-time record in October but still a November crush record with a 9.4% increase year o year.

The Stone X lowered their Brazilian soybean estimate by 1.26 million metric tons to 132.64 million metric tons. In Brazil at Mato Grasso early planted soybean crop harvest begins but funds eye on yield. SA soybean crop size still uncertain due to hotter weather concern and dryness fear, as hot and dry outlook for Southern Brazil, Argentina and Uruguay for next two weeks is seen as critical for the soybean crop.

Today soybean prices opened flat and in the future exchange the prices traded weak after Monday rally.  All India soybeans arrival are reported around 30,000-32,000 metric tons in the domestic markets. In the future exchange soybean prices opened weak and traded low by 2.46% & closed at INR 46,720 against yesterday close of INR 47,470.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 46,000-47,000
Maharashtra 45,000-47,000
Rajasthan 46,000-47,000
Rest India 46,500- 48,250
  As per moisture condition *+GST 5%

Market Prices :

The soybean meal prices opened flat in the domestic market and the meal demand remains weak and  hand to mouth. The soybean meal prices range INR 33,500-36,200+ GST across India. Reseller are quoting soybean meal prices lower by INR 200-500 PMT. Also the news of Bird Flu in some parts of India keep meal demand weak.

The Sunflower meal pellet prices remains firm & the importers are quoting in the price range INR 28,500- 29,000 +GST PMT ex Tuticorin port. Whereas resellers are quoting prices INR 28,100-28,200 +GST PMT.

The rapeseed meal prices opened firm in the domestic markets.


Soybean Meal:


State Plant Price (in INR-PMT)*
Madhya Pradesh 33,500-35,100
Maharashtra 34,200-36,000
Rajasthan 34,200-35,000
Karnataka 34,900-36,200
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 36,500 -36,800+GST
Kandla-FAS (in USD/PMT) 512



Sunflower Meal:

Sunflower Meal Domestic Ex- Location
State Plant Price (in INR-PMT)* Min Protein
Karnataka NQ 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 28,500-29,000 35%
Ukraine Origin -Pellets(in INR/PMT) Vizag 26,500-26,800 32%-34%
*+GST 5% Moral condition



Rapeseed Meal:

Rapeseed Meal Domestic Ex- Location
State Plant Price (in INR-PMT)*
Rajasthan 20,600-21,700
Madhya Pradesh 20,700-21,500
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 20,500-20,900+GST5%
Kandla-FAS (in USD/PMT) 295