In India soybean prices opened flat yesterday. In the cbot the soy complex posted a big fall, as concerns grew over the economic impact of surging coronavirus cases globally, the US harvest pressure and the recent rainfalls in dry soybean growing areas of Brazil. With renewed concerns about coronavirus and the economic impact of surging coronavirus cases globally as well as the impending US election, we may see more volatility in coming days. Also the USDA announced an export sale of 110,000 metric tons of soybeans to Egypt and 120,000 metric tons were sold to unknown destinations by private exporters.

The improvement in the planting areas in Brazil have also fueled weakness in CBOT. In Parana state 61% planting areas complete last weak up by 29% vs prior week and in Mato Grasso 25% areas have been planted till last week. Rains soon predicted in Brazil and Rains in dry soybean-growing areas of Brazil, which competes with the US for soybean export are now weighing on soybean prices. As Brazil crop harvest predicted to begin by mid-January  despite 10 days sowing delay.

Today soybean prices opened flat in the domestic markets in India as arrivals are same as yesterday. Soybeans arrival are reported around 50,000-53,000 metric tons in the domestic markets. In the future exchange soybean prices traded weak by 0.72% & and later recovered in SH and traded high by 1.14% and today it closed at INR 43,260 against yesterday close of INR 42,850.

 

 

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

 

 

Market Prices:

The soybean meal prices opened weak by INR200-300 PMT in the domestic markets . The soybean meal prices range INR 32,900-35,500+ GST across India. Reseller are quoting soybean meal prices lower by INR 200-500 PMT.

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 INR26,000-26,200 +GST PMT.

The rapeseed meal prices recovered by INR100 PMT in the domestic markets.

 

Soybean Meal:

State	Plant Price (in INR-PMT)*
Madhya Pradesh	32,900-34,300
Maharashtra	33,700-35,500
Rajasthan	33,500-34,200
Karnataka	34,200-35,000
*+GST 5%	Moral condition
Soybean Meal Ex-Kandla Port
Port	Meal Price PMT
Kandla-FOR(in INR/PMT)	35,700 -35,900+GST
Kandla-FAS (in USD/PMT)	493

 

 

Sunflower Meal:

Sunflower Meal Domestic Ex- Location
State	Plant Price (in INR-PMT)*	Min Protein
Karnataka	21,000-21,300	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	20,300-20,900
Madhya Pradesh	20,400-20,800
*+GST 5%	Moral condition
Rapeseed Meal at Kandla Port Ex- Location
Port	Meal Price PMT
Kandla-FOR(in INR/PMT)	20,400-20,500+GST5%
Kandla-FAS (in USD/PMT)	286