In India soybeans market opened flat to positive

In India soybeans market opened flat to positive tracking prices of Edible Oils & Rapeseed. Initially MDEX also supported the soybean prices but in SH market traded weak. The weather is clear and dry in soybean grown belts. In Cbot, soybean & soybean meal traded weak yesterday though soybean oil prices recovered from its interim low. It appear that soybean prices caught between weak meal and better oil prices. Due to harvest pressure the soybean meal prices are getting weaker. The soybean export demand has also faded due to limited China purchases. The USDA announced a sale 218,300 metric tons of soybeans sold to unknown destinations by private exporters. The Gulf basis for soybeans remains strong due to prior sales commitments.

Today soybean prices opened weak by INR 250-300 PMT. In the future exchange soybean opened flat to +ve and traded high by 0.77% and in SH soybean traded low by 1.26% and closed at INR 38,460 against yesterday closed of INR 38,750. New crop soybean arrivals are expected to improve in coming days.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 38,750-39,250
Maharashtra 37,500-41,000
Rajasthan 38,000-39,250
Rest India 38,250- 39,000
  As per moisture condition *+GST 5%

Market Prices:

Today soybean meal prices opened flat to weak and some processors have opened the price weak by INR 100-300 PMT. The soybean meal prices range INR 29,800-33,300+ GST across India. Resellers are quoting the prices lower by INR 200-300 PMT for ready delivery.

Importers are quoting the Sunflower meal prices flat.  The Sunflower meal pellet prices quoted by importers are in range INR 24,500- 25,000 +GST  PMT ex Tuticorin port & INR 24,500-25,000+GST PMT ex Vizag port. Whereas resellers are quoting prices INR23,800-24,000 +GST PMT.

The rapeseed meal prices opened flat in the domestic markets.


Soybean Meal:


State Plant Price (in INR-PMT)*
Madhya Pradesh 29,800-32,000
Maharashtra 30,800-33,300
Rajasthan 31,800-32,500
Karnataka 31,500-32,000
*+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) 438



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 24,500-25,000 35%
Ukraine Origin -Pellets(in INR/PMT) Vizag 24,500-25,000 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 17,500-17,800
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 17,500-17,600+GST5%
Kandla-FAS (in USD/PMT) 249



In the last 24 hours, moderate to heavy rainfall observed at north east India, TN & Kerala

Light to moderate rains observed at some areas of WB, south east Rajasthan, east MP, south Chhattisgarh, Vidharbha, Telangana, AP, Odisha &  Karnataka.

The southwest Monsoon  has withdrawn from some more areas of Rajasthan, Punjab and Haryana. The conditions are favourable for further withdrawal of southwest monsoon. The weather will remains clear and dry in north west India.

Light to moderate rainfall may be expected northeast India, WB, Gujarat, south MP, south Chhattisgarh, central Maharashtra, Marathwada, Telangana, AP, Odisha, Karnataka, TN & Kerala.