Its too early to predict about India’s next season soybean crop

The government expecting India’s soybean output for the next season will be at 13.7 MMT, higher by 25% from previous year’s level, according to the farm ministry’s second advance estimates.

However, according to IMD prediction over monsoon, rains in June and July is a major concern and its the key sowing months for soybean, so it’s difficult to predict about soybean crop in the coming season.

Also, Prices of soybean in the lean season have not increased according to the market due to huge stocks available in the market.

Currently, soybean demand from crushing units and exporters improved and the arrival has also improved in the local market demand from the bulk buyers improved after a thin trade in last week.