In India soybeans market opened firm to positive



In India soybeans market opened firm to positive taking cues from CBOT and the firmness in MDEX also supported the soybean and soybean oil prices. Yesterday in Cbot, the soybean prices fell down marginally in early trade but after the release by the USDA the quarterly stocks report, the soybean prices are back to six day high. The soy products also get the strength from the soybean prices and they also traded firm to +ve. The soybean ending stocks for the  marketing year 2019-20 pegged at 523 million bu (14.2 million metric tons), down 42% on the year and at the bottom range of market expectations of between 490-608 million bu.

Yesterday USDA announced another export sales of 215,000 metric tons of soybeans to unknown destinations and the based on recent buying activity & to a little surprise this is very likely China. Soybean meal supplies continues to be tight as some plants are under maintenance in US south & Midwest areas.

Today soybean prices recovered by INR 500-1000 PMT in domestic markets. In MP domestic markets are still closed due to strikes. In the future exchange soybean opened firm to positive taking cues from International markets and traded high by 2.17% and closed at INR 39,100 against yesterday close of INR 38,660. New crop soybean arrivals are expected to improve in coming days.

The quarterly stocks report was bullish across the board for corn, wheat, and soybeans

  State Plant Price (in INR-PMT)*
Madhya Pradesh 38,500-39,500
Maharashtra 38,000-41,500
Rajasthan 38,000-39,000
Rest India 38,250- 39,000
  As per moisture condition *+GST 5%

Market Prices:

Today soybean meal prices opened firm and some processers increase the prices by INR 200-300 PMT. The soybean meal prices range INR 29,800-33,500+ GST across India. Resellers are quoting the prices lower by INR 100-200 PMT for ready delivery.

The Sunflower meal pellet prices opened firm and the importers quoted the prices in range INR 24,000- 24,500 +GST PMT ex Tuticorin  & ex Vizag ports respectively. Whereas resellers are quoting prices INR23,600-23,800 +GST PMT.

The rapeseed meal prices also opened firm to positive and some of the processors have increased the prices by INR 100-200 PMT in the domestic markets.


Soybean Meal:


State Plant Price (in INR-PMT)*
Madhya Pradesh 29,800-32,000
Maharashtra 30,600-33,500
Rajasthan 31,500-32,000
Karnataka 31,400-32,000
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 31,500 -31,700+GST
Kandla-FAS (in USD/PMT) 442


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 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 17,300-18,000
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) 17,700-17,800+GST5%
Kandla-FAS (in USD/PMT) 252




In the last 24 hours, moderate to heavy rainfall observed at AP, costal Odisha, interior & costal Karnataka & TN.

Light to moderate rains observed at some areas of north east India, WB, Sikkim, south Rajasthan, south Gujarat, south east MP, south Chhattisgarh, Vidharbha, Telangana, interior Odisha &  Kerala.

Moderate to heavy rainfalls may be expected over Telangana, AP, costal Odisha & costal Karnataka.

Light to moderate rainfalls may be expected northeast India, WB, Sikkim,  south Rajasthan, south MP, south Chhattisgarh, central Maharashtra, Vidharbha, Marathwada, AP, Odisha, TN & Kerala.