Soybean
In India soybeans market opened firm to positive taking cues from CBOT and the firmness in MDEX also supported the soybean and soybean oil prices. Yesterday in Cbot, the soybean prices fell down marginally in early trade but after the release by the USDA the quarterly stocks report, the soybean prices are back to six day high. The soy products also get the strength from the soybean prices and they also traded firm to +ve. The soybean ending stocks for the marketing year 2019-20 pegged at 523 million bu (14.2 million metric tons), down 42% on the year and at the bottom range of market expectations of between 490-608 million bu.
Yesterday USDA announced another export sales of 215,000 metric tons of soybeans to unknown destinations and the based on recent buying activity & to a little surprise this is very likely China. Soybean meal supplies continues to be tight as some plants are under maintenance in US south & Midwest areas.
Today soybean prices recovered by INR 500-1000 PMT in domestic markets. In MP domestic markets are still closed due to strikes. In the future exchange soybean opened firm to positive taking cues from International markets and traded high by 2.17% and closed at INR 39,100 against yesterday close of INR 38,660. New crop soybean arrivals are expected to improve in coming days.
The quarterly stocks report was bullish across the board for corn, wheat, and soybeans
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 38,500-39,500 | |
| Maharashtra | 38,000-41,500 | |
| Rajasthan | 38,000-39,000 | |
| Rest India | 38,250- 39,000 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices opened firm and some processers increase the prices by INR 200-300 PMT. The soybean meal prices range INR 29,800-33,500+ GST across India. Resellers are quoting the prices lower by INR 100-200 PMT for ready delivery.
The Sunflower meal pellet prices opened firm and the importers quoted the prices in range INR 24,000- 24,500 +GST PMT ex Tuticorin & ex Vizag ports respectively. Whereas resellers are quoting prices INR23,600-23,800 +GST PMT.
The rapeseed meal prices also opened firm to positive and some of the processors have increased the prices by INR 100-200 PMT in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 29,800-32,000 |
| Maharashtra | 30,600-33,500 |
| Rajasthan | 31,500-32,000 |
| Karnataka | 31,400-32,000 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 31,500 -31,700+GST |
| Kandla-FAS (in USD/PMT) | 442 |
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 | 24,000-24,500 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | 24,000-24,500 | 35% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 17,300-18,000 |
| Madhya Pradesh | 17,300-17,600 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 17,700-17,800+GST5% |
| Kandla-FAS (in USD/PMT) | 252 |
Weather
In the last 24 hours, moderate to heavy rainfall observed at AP, costal Odisha, interior & costal Karnataka & TN.
Light to moderate rains observed at some areas of north east India, WB, Sikkim, south Rajasthan, south Gujarat, south east MP, south Chhattisgarh, Vidharbha, Telangana, interior Odisha & Kerala.
Moderate to heavy rainfalls may be expected over Telangana, AP, costal Odisha & costal Karnataka.
Light to moderate rainfalls may be expected northeast India, WB, Sikkim, south Rajasthan, south MP, south Chhattisgarh, central Maharashtra, Vidharbha, Marathwada, AP, Odisha, TN & Kerala.