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 |
Weather
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.