In India soybean prices opened weak taking cues from CBOT. Yesterday in CBOT, profit taking was observed in soy complex. Also the news of beneficial weather into the soybean planting areas of Brazil, push the market down. Yesterday Argentina and Brazil were out of action due to national holidays and also at US due to federal holiday there were no export inspections nor USDA flash sales data. Soybean plantings across the Brazil have reached just 3.4% due to sizzling weather and poor soil moisture as farmers waiting for rainfalls. The soybeans planting are the slowest in the decade.
Today soybean prices opened weak by INR 250-500 PMT with arrivals are around 68,000-70,000 metric tons in the domestic markets. Yesterday soybeans arrival were around 74,000-76,000 metric tons in the domestic markets. In SH the soybean prices recovered and traded +ve due to firm prices of oils on coming festivals . The arrivals are low in Maharashtra and expected to improve in next 4-5 days. In the future exchange soybean prices opened weak and traded low by 1.51% and traded high by 0.49% and today soybean prices closed weak at INR 40880 against yesterday close of INR 41,120.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 39,500-40,500 | |
| Maharashtra | 39,750-41,500 | |
| Rajasthan | 39,250-40,000 | |
| Rest India | 39,250- 40,000 | |
| As per moisture condition | *+GST 5% |
Market Prices:
The soybean meal prices range INR 31,000-35,300+ GST across India. Reseller are quoting soybean meal prices lower by INR 400-600 PMT.
The Sunflower meal pellet prices opened firm. The importers are quoting the prices in range INR 25,500- 26,000 +GST PMT ex Tuticorin port & INR 24,300- 24,500 +GST PMT ex Vizag port. Whereas resellers are quoting prices INR23,700-24,800 +GST PMT.
The rapeseed meal prices remained firm in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 31,000-33,000 |
| Maharashtra | 32,000-35,300 |
| Rajasthan | 32,300-33,000 |
| Karnataka | 33,000-34,200 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 33,800 -33,900+GST |
| Kandla-FAS (in USD/PMT) | 470 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | 18,500-18,700 | 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 | 25,500-26,000 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | 24,300-24,500 | 35% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 17,700-18,200 |
| Madhya Pradesh | 17,600-18,000 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 18,300-18,400+GST5% |
| Kandla-FAS (in USD/PMT) | 261 |