In India soybean prices recovered today in the future exchanges. Yesterday in CBOT, soybean back from their high as profit booking is observed. Argentina URGARA (cargo controllers union) union strike lifted yesterday which was declared on 9th December 2020. All affected terminals resumed to normal operations after the ports Inspectors sign deal to end strike. USDA announced two large private export sales of soybean to unknown destinations and they purchased 213,350 metric tons of old crop soybeans and 130,000 metric tons of new crop soybeans. That was a marketing year low and well below the range of estimates.The confirmation on fresh export sales tracks with market comments that Chinese buyers have been sourcing US new crop cargoes of PNW origin this week. In the weekly export sales for the week ending 31st Dec.20 were reported as 36,964 metric tons and included a 769,500 metric tons reduction for unknown destinations.
Today soybean prices opened flat and in the future exchange the prices traded firm to positive after yesterday weakness. All India soybeans arrival are reported around 34,000-36,000 metric tons in the domestic markets. In the future exchange soybean prices opened firm and traded high by 1.27% & closed at INR 46,270 against yesterday close of INR 45,690.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 45,750-46,500 | |
| Maharashtra | 44,500-46,500 | |
| Rajasthan | 45,000-46,000 | |
| Rest India | 45,500- 47,750 | |
| As per moisture condition | *+GST 5% |
Market Prices :
The soybean meal prices opened weak by INR 200-300 PMT in the domestic market. The bird flu reported in 5 states due to migratory birds though no serious impact on poultry trade but the meal demand remains weak from last few days. The soybean meal prices range INR 32,600-35,800+ GST across India. Reseller are quoting soybean meal prices lower by INR 400-500 PMT.
The Sunflower meal pellet prices remains firm & the importers are quoting in the price range INR 28,500- 29,000 +GST PMT ex Tuticorin port. Whereas resellers are quoting prices INR 28,000-28,200 +GST PMT.
The rapeseed meal prices opened weak by INR 200-300 in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 32,600-34,700 |
| Maharashtra | 34,000-35,800 |
| Rajasthan | 33,500-34,500 |
| 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) | 505 |
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