In India soybean prices recovered taking cues from International markets

In India soybean prices recovered taking cues from International markets. In MDEX also palm oil get strength from yesterday CBOT & oils prices traded firm and +ve. The October USDA report is on coming Friday & things could start looking tight before report. In yesterday Cbot soya complex rallied with the news that the Brazil continues to wait for rain and the dry weather has slowed plantings. Also USDA announced a private export sale of 154,400 metric tons of soybeans to unknown destinations. Trade claims that the China may remained active during the holiday & these sales lends support to some of those claims. The trade also talking that the China is coming for more soybeans after their holiday and US soybean demand for Feb month also. The strong China demand & South American weather issues that brings down the production and also delay the harvest could send soybeans on more upside.  Also attached the WASDE preview soybeans report.

Today soybean prices recovered by INR 500-750 PMT in the domestic markets taking cues from CBOT and South America dry weather. The MP domestic markets also opened after strike. Today soybean arrivals are around 37,000-40,000 metric tons in the domestic market. In the future exchange soybean prices recovered & traded higher by 2.69% and trading at INR 39,560 against yesterday close of INR 38,710.

Weather is expected to remain dry in central India & the new crop soybeans arrival are coming with high moisture level in range 14%-22%.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 37,750-39,000
Maharashtra 37,750-39,500
Rajasthan 37,250-38,500
Rest India 37,750- 38,750
  As per moisture condition *+GST 5%

Market Prices:

Today soybean meal prices recovered by INR 200-600 PMT. The soybean meal prices range INR 29,000-32,300+ GST across India.  Major problem is coming with high moisture between 12.5% to 14% & over toasting in the soybean meal.

The Sunflower meal pellet prices opened firm and the importers are quoting the prices in range INR 24,000- 24,500 +GST PMT ex Tuticorin  & ex Vizag ports respectively. Whereas resellers are quoting prices INR23,700-23,800 +GST PMT.

The rapeseed meal prices opened flat in the domestic markets.


Soybean Meal:

State Plant Price (in INR-PMT)*
Madhya Pradesh 29,000-31,300
Maharashtra 30,500-32,300
Rajasthan 30,700-31,300
Karnataka 30,800-31,800
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 31,700 -32,000+GST
Kandla-FAS (in USD/PMT) 446


Sunflower Meal:

Sunflower Meal Domestic Ex- Location
State Plant Price (in INR-PMT)* Min Protein
Karnataka 18,000-18,200 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 24,000-24,500 35%
Ukraine Origin -Pellets(in INR/PMT) Vizag 24,000-24,500 35%
*+GST 5% Moral condition



Rapeseed Meal:

Rapeseed Meal Domestic Ex- Location
State Plant Price (in INR-PMT)*
Rajasthan 17,400-17,800
Madhya Pradesh 17,300-17,600
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 17,900-18,000+GST5%
Kandla-FAS (in USD/PMT) 255



In the last 24 hours, moderate to heavy rainfall observed at WB, Assam, AP, Jharkhand, east MP, Chhattisgarh, Telangana & costal AP.

Light to moderate rains observed at north east India, Bihar, Odisha, costal Karnataka, TN &  Kerala.

Moderate to heavy rainfalls may be expected over WB, Assam, Telangana & costal AP.

Light to moderate rainfalls may be expected at north east India, Bihar, Jharkhand, east MP, Chhattisgarh, Vidharbha, Telangana, Rayalaseema, Odisha, Karnataka, TN & Kerala.

Weather will remain dry in the north India and most parts of central India.  The southwest monsoon has departed from North India, Rajasthan, some areas of UP & MP and some areas of Gujarat.