In India soybean prices opened firm taking cues from the International markets.

In India soybean prices opened firm taking cues from the International markets. Yesterday in CBOT soybean opens sideways, but after the release of NOPA crush reports the soy complex started improving as they released a better than expected set of crushing data. As per NOPA the November soybean crush around 4.926 million metric tons vs previous month crush of 5.041 million metric tons, the number was 2.28% lower month on month however 9.7% higher year on year. The report was above the average trade estimate but within the range of estimates. The soybean meal export reached 1.082 million metric tons. NOPA soybean oil stocks were slightly above the trade average estimate of 1.557b lbs reported.

The soybeans in CBOT are also getting support from Argentina where labour strikes continue to be the point its hard to find soybean oil offers as well as soybean meal offers. It should be noted this is not a big time of the year for Argentina crushing. Also weather in SA looks friendly and in the crop development little has changed on that front this week. Brazil seems mostly fine with Argentina having some concerns over dry weather. AgRural reported soybeans are 95% planted in Brazil and behind LY’s pace by 1% whereas in Argentina soybean planting is 62% completed and that trails the 5 year average by 1% as well.

Today soybean prices recovered and improved by INR 250-500 PMT in the domestic markets. The major credit goes to soybean oil in raising the soybean prices. All India soybeans arrival are reported around 32,000-33,000 metric tons in the domestic markets. In the future exchange soybean prices opened firm to positive and traded high by 1.99% & closed at INR 44,110 against yesterday close of INR 43,630.

  State Plant Price (in INR-PMT)*
Madhya Pradesh 43,750-44,750
Maharashtra 43,500-45,250
Rajasthan 43,750-44,500
Rest India 44,250- 45,500
  As per moisture condition *+GST 5%

Market Prices :

The soybean meal prices recovered by INR 300-500 pmt in the domestic market with the recovery in soybean prices. Though the soybean meal demand is hand to mouth. The soybean meal prices range INR 32,500-35,700+ GST across India. Reseller are quoting soybean meal prices lower by INR 200-400 PMT.

The Sunflower meal pellet prices remains same & the importers are quoting in the price range INR 28,000- 28,500 +GST PMT ex Tuticorin port. Whereas resellers are quoting prices INR 27,800-27,900 +GST PMT.

The rapeseed meal prices opened flat today in the domestic markets.


Soybean Meal:


State Plant Price (in INR-PMT)*
Madhya Pradesh 32,500-34,000
Maharashtra 32,800-34,500
Rajasthan 32,800-34,000
Karnataka 34,300-35,700
*+GST 5% Moral condition
Soybean Meal Ex-Kandla Port
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 35,000 -35,200+GST
Kandla-FAS (in USD/PMT) 488


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 28,000-28,500 35%
Ukraine Origin -Pellets(in INR/PMT) Vizag 26,500-27,000 32%-34%
*+GST 5% Moral condition



Rapeseed Meal:

Rapeseed Meal Domestic Ex- Location
State Plant Price (in INR-PMT)*
Rajasthan 18,600-19,600
Madhya Pradesh 18,600-19,000
*+GST 5% Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port Meal Price PMT
Kandla-FOR(in INR/PMT) 19,000-19,200+GST5%
Kandla-FAS (in USD/PMT) 272