Soybean meal prices opened flat on Tuesday.

Soybean meal prices range INR 28,800-32,700+ GST across India.

For some plants material, the reseller are quoting as low as INR 28,000 PMT+ GST in MP and INR 29,400 +GST in Maharashtra.

Feed Mfgs/Poultry farmers are buying soybean meal as per their requirements, even though the poultries/feed mfgs have a limited stocks in their hand.

The Sunflower meal pellet prices quoted by importers are in range INR 23,000- 23,500 PMT + GST ex Tuticorin & ex Vizag ports. The resellers are quoting in price range INR 22,500-22,800 PMT +GST at Tuticorin and Vizag port respectively.

Today soybean opened in +ve node in the future exchange. The soybean is trading at INR 36,860 against yesterday closed of INR 36,900. Weak demand of oil and meal still weigh on soybeans.

Weather

Moderate to heavy rainfall observed in WB, Bihar, Assam and some parts of Jharkhand, whereas light to moderate rain were observed at Up, Uttarakhand, Haryana, Punjab, MP, parts of Rajasthan, part of Marathwada, AP, interior Karnataka, Tamilnadu & Kerala.

Light rains were observed at Telangana, Gujarat, J&K and HP.

Moderate to heavy rains are likely over entire India while in parts of North West light rains are forecast.

Light to moderate rains are likely over MP, Madhya Maharashtra, Marathwada & costal Karnataka.