In India soybean prices remained firm taking cues from CBOT. Yesterday

In India soybean prices remained firm taking cues from CBOT. Yesterday in CBOT too, soybean continued rallied, as weather in Brazil still an issue & China continues purchase pushing the soybean prices high. So fund are anticipating supply tightness for next few months. The USDA announced another sale of 261,000 metric tons soybeans to China by a private exporter. The strong soybeans demand have pushed not only the basis prices but also the futures prices to test highs. As per the NOPA crush report, September month soybean crush was 4.395 million tons down by 97K metric ton vs August. The crush estimated to have fallen 2% and still it is largest September month crush. The data was broadly in line with market expectations.

Today soybean prices opened firm & in the future exchanges soybean prices recovered on more crop loss feared due to heavy rains in Maharashtra & Telangana states. Today soybeans arrival are very less as compared to yesterday and are reported around 37,000-38,000 metric tons in the domestic markets. In the future exchange soybean prices traded high by 1.97% and closed at INR 41,830 against yesterday close of INR 41,170.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 40,500-41,500
Maharashtra 40,500-42,000
Rajasthan 40,500-41,250
Rest India 40,250- 41,250
  As per moisture condition *+GST 5%

Market Prices:

The soybean meal prices opened firm and some processors have reduce the price by INR300-500 PMT. The soybean meal prices range INR 32,000-34,500+ GST across India. Reseller are quoting soybean meal prices lower by INR 200-300 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 . Whereas resellers are quoting prices INR24,900-25,100 +GST PMT.

The rapeseed meal prices are firm in the domestic markets.


Soybean Meal:


State Plant Price (in INR-PMT)*
Madhya Pradesh 32,000-33,200
Maharashtra 32,500-34,500
Rajasthan 33,200-34,000
Karnataka 33,200-34,500
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 34,000 -34,100+GST
Kandla-FAS (in USD/PMT) 474
Rapeseed Meal Domestic Ex- Location
State Plant Price (in INR-PMT)*
Rajasthan 17,800-18,500
Madhya Pradesh 17,800-18,200
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 18,400-18,500+GST5%
Kandla-FAS (in USD/PMT) 262