In India soybeans market opened weak by taking cues from the International markets due to profit booking in vegetable oils segment. In Indian future exchange the soybean oil traded low by 3% whereas rapeseed traded up by 2.56% for the current month .In yesterday CBOT, profit booking were observed in the soybean oil where in soybeans losses were checked by strong demand from China and good support from soybean meal. USDA announced another sale by private exporter of 132,000 metric tons of soybeans to China and another 126,000 metric tons of soybeans were sold to unknown destinations for the delivery during2020-21. US Gulf Coast cargo basis remains strong on the consistent sales. Strong demand within Brazil being sold out of soybeans could keep any dips in the soybean market short lived. However potential harvest pressure, month and quarter end profit taking, and the quarterly stocks report could provide further pressure in the soybean and also keeping a bit of a cap on upward movement.
Soybean meal prices are soaring in US as some processors take seasonal maintenance. Export demand is improving as Argentina crush has slowed.
Today soybean prices opened weak by INR 250-500 PMT in the domestic markets taking cues from the Vegoils segment and in the future exchange soybean traded low by 2.74% and closed at INR 39,220 against yesterday closed at INR 40,180.
Raining observed in central India in soybean grown belts, which are delaying the new soybeans arrival and also affecting the quality of present crop.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 38,750-40,000 | |
| Maharashtra | 38,750-41,000 | |
| Rajasthan | 38,500-39,750 | |
| Rest India | 38,750- 39,,750 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices opened flat to weak by INR 300-400 PMT. The soybean meal prices range INR 30,500-34,500+ GST across India. Resellers are prices lower by INR 300-400 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 INR23,800-24,000 +GST PMT.
The rapeseed meal prices opened flat in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 30,500-32,700 |
| Maharashtra | 31,300-34,500 |
| Rajasthan | 32,500-33,000 |
| Karnataka | 32,000-33,000 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 33,000+GST |
| Kandla-FAS (in USD/PMT) | 456 |
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 | 24,500-25,400 | 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 | 17,400-18,200 |
| 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) | 17,700-17,800+GST5% |
| Kandla-FAS (in USD/PMT) | 251 |
Weather
In the last 24 hours, moderate to heavy rainfall observed at north east India, WB, Sikkim, Assam, AP, Bihar, Jharkhand, central UP, Uttarakhand, south Gujarat, some area of MP, Chhattisgarh, Vidharbha, Marathwada, costal Karnataka & Kerala,
Light to moderate rains observed at some areas of west UP, Punjab, Haryana, Telangana, costal AP, Rayalaseema, interior Karnataka & TN.
Within next 24 hours moderate to heavy rainfall may be expected over northeast India, WB, Sikkim, Assam, Bihar, east UP, south Gujarat & costal AP.
Light to moderate rainfall may be expected Jharkhand, Haryana, Punjab, MP, Chhattisgarh, Vidharbha, interior Maharashtra, Telangana & TN.