In India soybeans market open flat to positive but in second half due to profit booking in MDEX the soybeans in domestic market traded weak. Last Friday in cbot, a remarkable rally was seen in soya complex . The soybeans traded firm & strong due to good demand of US soybeans, as most of the soybean exporting facilities are booked till November and Funds still bullish due to weather risk concern. China is also continuously buying soybeans from US from last few days because Golden week long holiday coming soon. On Last Friday USDA announced another export sales of soybeans 132,000 metric tons to China.
In India soybean prices opened up by INR 250-500 PMT in the domestic markets but in SH prices roll done with profit booking in oils.
Today soybean opened flat to positive in the future exchange & traded up by 1.85% and in SH with profit booking at MDEX traded low by 1.37% and closed weak at INR 39,850 against yesterday closed at INR 40,060. Raining observed in central India in soybean grown belts, which are delaying the new soybeans arrival and in some domestic markets new crop soybeans reported but with high moisture 15% – 26%.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 39,000-40,500 | |
| Maharashtra | 39,500-42,000 | |
| Rajasthan | 38,750-40,000 | |
| Rest India | 39,000- 40,250 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices open firm to positive & some of the processors have increased the prices by INR 100-200 PMT. The soybean meal prices range INR 31,000-35,500+ GST across India. Resellers are prices lower by INR 200-300 PMT.
Importers are quoting the Sunflower meal prices firm .The Sunflower meal pellet prices quoted by importers are in range INR 24,500- 25,400 +GST PMT ex Tuticorin port & INR 24,500-25,200+GST PMT ex Vizag port. Whereas resellers are quoting prices INR23,900-24,000 +GST PMT.
The rapeseed meal prices recovered by INR 300-500 PMT in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 31,000-33,300 |
| Maharashtra | 32,000-35,500 |
| Rajasthan | 33,000-33,500 |
| Karnataka | 32,500-34,000 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 33,500+GST |
| Kandla-FAS (in USD/PMT) | 465 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | 19,000-19,300 | 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 | 24,500-25,400 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | 24,500-25,200 | 35% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 17,500-18,200 |
| Madhya Pradesh | 17,500-17,800 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 17,800-17,900+GST5% |
| Kandla-FAS (in USD/PMT) | 253 |
Weather
In the last 24 hours, moderate to heavy rainfall observed at WB, Sikkim, Assam, AP, Jharkhand, MP, Maharashtra, Telangana , AP, Karnataka, TN & Kerala.
Light to moderate rains observed at some areas of north east India, Bihar, east UP, Uttarakhand, Rajasthan , Gujarat, Rayalaseema & Odisha.
Within next 24 hours moderate to heavy rainfall may be expected over northeast India, WB, Sikkim, Assam, Bihar, Jharkhand, east MP, Chhattisgarh, Maharashtra, Odisha, Karnataka & Kerala.
Light to moderate rainfall may be expected over UP, Uttarakhand, Haryana, Rajasthan, south Gujarat, west MP, AP, Telangana. Rayalaseema & TN.
Excess rainfalls in the soybean grown areas are not good for the present crop.