Taking cues from yesterday USDA report the India Soybean prices and MDEX opened firm to positive.

Taking cues from yesterday USDA report the India Soybean prices and MDEX opened firm to positive. Yesterday in CBOT, the soybean traded firm to positive initially and after the USDA report the soybean prices rose 1% and  hit their highest in more than four years. The forecast report reflected a decline in US harvest expectations and strong exports to China and other countries and  also the end-of-season stockpiles will fall to their smallest in seven years. The Forecast trimmed soybean yield by 1.2 bpa to 50.7, the lower US soybean yield pushed output 98 million bushels lower to 4.170 billion & the end soybean stocks were revised 100 million bushels lower to 190. They also lowered in their forecast the Argentina’s 2020-21 soybean crop to 51 million tons, from 53.5 million tons as per last month forecast, but left its estimate of Brazil’s soybean crop unchanged at 133 million tons.

Funds are overexcited to further China demand in coming days with SA weather events concerning the current La Nina. If hot and dry conditions remains in SA deep into December month then that look out for higher prices in coming days. More chances that the China purchases rises coupled with hot and dry conditions to persist in Brazil and Argentina.

Brazil has seen enough rain to catch up on plantings but concerns about dry weather continue to loom. CONAB estimate for soybean production to134.953 million metric tons for Brazil after raising it 1.28 million on increased acreage.

Today soybean prices moved up by INR 250-500PMT in the domestic markets initially and by INR 750-1,000PMT later in the day. All India soybeans arrival are reported around 48,000-50,000 metric tons in the domestic markets. In the future exchange soybean prices opened firm to positive & later traded high by 2.86 % and closed at INR 44,240 against yesterday close of INR 43,080.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 42,750-44,000
Maharashtra 42,250-44,250
Rajasthan 42,500-43,750
Rest India 42,750- 44,000
  As per moisture condition *+GST 5%

Market Prices :

The soybean meal prices recovered by INR200-500 PMT initially . But in SH with recovery in MDEX and soybeans prices in future exchanges the soybean meal prices also improved further by INR 500-600 PMT. The soybean meal prices range INR 32,500-35,300+ GST across India. Reseller are quoting soybean meal prices lower by INR 300-400 PMT.

The Sunflower meal pellet prices improved by INR 500-600 PMT & the importers are quoting the prices in range INR 27,000- 27,500 +GST PMT ex Tuticorin port . Whereas resellers are quoting prices INR26,300-26,500 +GST PMT.

The rapeseed meal prices open firm in the domestic markets.


Soybean Meal:


State Plant Price (in INR-PMT)*
Madhya Pradesh 32,500-35,000
Maharashtra 33,500-35,300
Rajasthan 33,700-35,200
Karnataka 34,200-35,000
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 36,000 -36,300+GST
Kandla-FAS (in USD/PMT) 497


Sunflower Meal:

Sunflower Meal Domestic Ex- Location
State Plant Price (in INR-PMT)* Min Protein
Karnataka NQ 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 27,000-27,500 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 20,300-21,500
Madhya Pradesh 20,500-21,000
*+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