In India soybeans market remain firm taking cues from International markets. Also arrivals are less due to ongoing rains in central India in the soybean grown belts. In yesterday cbot, soybean and soybean meal again make a remarkable rally. China is continuously buying soybeans from US from last few days and even the crush margins of soybeans are firm to positive in China. Yesterday USDA announced two large export sales of soybeans, private exporters sold 264,000 metric tons to China, and 360,500 metric tons to unknown destinations. The weekly net export sales showed 2.457 million metric tons with 1.487 million metric tons headed to China. The continued buying of soybean has pushed the prices to test new highs in the future markets. Basis offers on FOB cargos continue to jump on the strong demand and concerns over capacity limitations. In soybean meal also funds are bullish and are expecting prices to rally on US production at weather risk. In MDEX also oils prices traded firm to positive.
In India soybean prices moved up by INR 250-500 PMT today in the domestic markets. Today soybean is trading at INR 4,050 against yesterday closed at INR 39,040 in the future exchange and soybean prices has traded up by 2.87%.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 39,000-39,750 | |
| Maharashtra | 39,250-41,500 | |
| Rajasthan | 38,500-39,500 | |
| Rest India | 38,750- 39,750 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices open firm to positive and some of the processors have increased the prices by INR 200-300 PMT. The soybean meal prices range INR 31,500-34,800+ GST across India.
Importers are quoting the Sunflower meal prices firm and some have increased the price by INR 200 PMT. 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 INR24,000-24,200 +GST PMT.
The rapeseed meal prices opened flat to positive and some of the processors have increased the price by INR 100-200 PMT in the domestic market.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 31,500-33,200 |
| Maharashtra | 32,300-34,800 |
| Rajasthan | 32,200-33,200 |
| Karnataka | 32,300-33,500 |
| *+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) | 468 |
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 | 17,200-18,000 |
| Madhya Pradesh | 17,100-17,300 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 17,500-17,600+GST5% |
| Kandla-FAS (in USD/PMT) | 250 |
Weather
In the last 24 hours, moderate to heavy rainfall observed at WB, Sikkim, Assam, AP, south west MP, central Maharashtra, Vidharbha, Marathwada, Telangana , AP, costal Karnataka & Kerala.
Light to moderate rains observed at some areas of north east India, Bihar, Jharkhand, UP, Uttarakhand, south east Rajasthan , Gujarat, other areas of MP, Chhattisgarh, some other areas of Maharashtra, Rayalaseema, Odisha &TN.
A cyclonic circulation is seen over Bay of Bengal, Telangana , AP & costal TN.
Within next 24 hours moderate to heavy rainfall may be expected over northeast India WB, Sikkim, Assam, Bihar, east UP, central Maharashtra, Vidharbha, Marathwada, Odisha, costal Karnataka & Kerala.
Light to moderate rainfall may be expected over north east India, Jharkhand, UP, Uttarakhand, south east Rajasthan, Gujarat, south MP, Chhattisgarh, AP, Telangana. Rayalaseema, interior Karnataka & TN.
Excess rainfalls in the soybean grown areas are not good for the present crop.