In India soybeans market opened flat to positive on Monday taking cues from international markets but after few hours traded weak in the future exchange with the news of sun shines in soybean-growing belts after last week rains. Though the domestic markets are closed in MP state due to strike. The southwest monsoon has started withdrawing from west Rajasthan and Punjab.
In Cbot soybean prices are trying to hold on to the $10. The trade believed that the selling in futures was due to profit taking and squaring off of positions before the US harvest. China demand has been cooled for the time being but may see a wave of purchases ahead of the week long Golden Week holidays over Oct. 1-8.
Today soybean prices opened flat but later on the processors reduce the prices by INR 250-500 PMT. In the future exchange soybean traded low by 1.33% and closed at INR 38,800 against Friday closed at INR 39,180.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 38,750-39,500 | |
| Maharashtra | 37,750-40,000 | |
| Rajasthan | 38,000-39,250 | |
| Rest India | 38,250- 39,000 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices opened flat to weak by INR 500-600 PMT. The soybean meal prices range INR 30,000-33,500+ GST across India. Resellers are quoting the prices lower by INR 200-300 PMT.
Importers are quoting the Sunflower meal prices lower by INR400- 500 PMT. The Sunflower meal pellet prices quoted by importers are in range INR 24,500- 25,000 +GST PMT ex Tuticorin port & INR 24,500-25,000+GST PMT ex Vizag port. Whereas resellers are quoting prices INR23,800-24,000 +GST PMT.
The rapeseed meal prices opened flat but later traded weak by INR 200-300 PMT in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 30,000-32,000 |
| Maharashtra | 30,800-33,500 |
| Rajasthan | 31,800-32,300 |
| Karnataka | 31,500-32,200 |
| *+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) | 440 |
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 | 24,500-25,000 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | 24,500-25,000 | 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 | 17,500-17,800 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 17,600-17,700+GST5% |
| Kandla-FAS (in USD/PMT) | 250 |
Weather
In the last 24 hours, moderate to heavy rainfall observed at north east India, WB, Sikkim, Bihar, south east MP, south Chhattisgarh, Odisha, TN & Kerala
Light to moderate rains observed at some areas of south east Rajasthan, east Gujarat, Telangana, AP & costal Karnataka.
The southwest Monsoon has withdrawn from some areas of west Rajasthan and Punjab and conditions are favourable for further withdrawal of southwest monsoon. The weather will remains clear and dry in north west India.
Light to moderate rainfall may be expected northeast India, WB, south east Rajasthan, Gujarat, south MP, south Chhattisgarh, Telangana, AP, Odisha, Karnataka, TN & Kerala.