Soybean prices opened firm to positive across India taking cues from the International markets. Yesterday the news of poor weather in SA railed the soybean complex in CBOT. The weather in SA remains uncertain due to rains not occurring, as per earlier weather forecast. In southern Brazil and Argentina both remain relatively dry with slight moisture in their respective forecasts for these regions.The trade is expecting lower US soybean crop in the next WASDE report is supporting soybean prices in CBOT. Whereas buyers from China were resumed buying from Brazil the new crops soybean. The Brazilian farmers have sold much of their new crops soybean before it harvest. The unfavourable weather in SA is still the biggest feature for Funds.
Today soybean prices recovered by INR 250-500 PMT in the domestic markets. All India soybeans arrival also improved today & reported around 71,000-73,000 metric tons in the domestic markets. In the future exchange soybean prices traded firm to positive & traded high by 1.85 % and trading at INR 43,300 against yesterday close of INR 42,600.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 42,500-43,500 | |
| Maharashtra | 41,750-44,000 | |
| Rajasthan | 42,000-43,500 | |
| Rest India | 42,750- 43,500 | |
| As per moisture condition | *+GST 5% |
Market Prices :
The soybean meal prices improve by INR 200-500 PMT taking cues from International markets. The soybean meal prices range INR 32,500-35,000+ GST across India. Reseller are quoting soybean meal prices lower by INR 300-500 PMT. Soybean meal demand remains weak from end users as they are expecting some more corrections in the meal prices in the coming days with arrivals to improve with upcoming Deepawali festival.
The Sunflower meal pellet prices opened firm & the importers are quoting the prices in range INR 26,000- 27,000 +GST PMT ex Tuticorin port . Whereas resellers are quoting prices INR26,000-26,100 +GST PMT.
The rapeseed meal prices improve by INR 100-200 PMT in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 32,500-34,700 |
| Maharashtra | 33,500-34,700 |
| Rajasthan | 33,500-34,700 |
| Karnataka | 34,300-35,000 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 35,300 -35,500+GST |
| Kandla-FAS (in USD/PMT) | 488 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | 23,000-23,500 | 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 | 26,000-27,000 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | NQ | 35% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 20,500-21,400 |
| Madhya Pradesh | 20,500-21,200 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 20,700-20,800+GST5% |
| Kandla-FAS (in USD/PMT) | 289 |