The week open with weakness in soybeans prices in India with improvement in soybean arrivals in domestic markets. Weather is also clean and dry in soybean sown belts. In MP  domestics markets are still closed due to strike and plants are getting material directly from farmers and traders. MDEX opened weak and later recovered in SH and closed +ve.  Last Friday the markets have reacted on the news of President Trump tested +ve with Covid-19. The markets moved lower as traders deal with the uncertainty and impacts. The soybean and soybean oils traded weak in CBOT. The USDA announced another sale of 264,000 metric tons of soybeans to China and 252,000 metric tons were more sold to unknown destinations by Private exporters. China buying is anticipated to be thin for the next week but so far buyers have remained in the market despite the holiday. The soybean sowing in brazil is hurting due to dryness and the MatoGraso sowing is 1.7% completed vs LY 6.65% vs 5year average of 9.59%.

Today soybean prices opened weak by INR 1000-1500 PMT in domestic markets. In the future exchange soybean opened weak taking cues from the International markets & also with the improvement in new crop soybeans arrival in domestic markets. The soybean traded low by 2.04% and is trading at INR 38,440 against Thursday close of INR 39,200. New crop soybeans arrival are coming with high moisture level in range 14%-22%.

 

 

The quarterly stocks report was bullish across the board for corn, wheat, and soybeans

 

State	Plant Price (in INR-PMT)*
Madhya Pradesh	37,500-38,500
Maharashtra	37,000-38,500
Rajasthan	37,250-38,250
Rest India	37,500- 38,500
	As per moisture condition	*+GST 5%

Market Prices:

Today soybean meal prices opened weak by INR 500-700 PMT. The soybean meal prices range INR 29,000-32,500+ GST across India. Resellers are quoting the prices lower by INR 300-500 PMT for ready delivery.

The Sunflower meal pellet prices opened firm and the importers are quoting the prices in range INR 24,000- 24,500 +GST PMT ex Tuticorin  & ex Vizag ports respectively. Whereas resellers are quoting prices INR23,700-23,800 +GST PMT.

The rapeseed meal prices opened flat in the domestic markets.

 

Soybean Meal:

State	Plant Price (in INR-PMT)*
Madhya Pradesh	29,000-31,300
Maharashtra	29,600-32,500
Rajasthan	30,600-31,500
Karnataka	30,500-31,500
*+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	18,000-18,500	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)	18,000-18,100+GST5%
Kandla-FAS (in USD/PMT)	255

 

Weather

In the last 24 hours, moderate to heavy rainfall observed at north east India,  Odisha, interior & costal Karnataka.

Light to moderate rains observed at WB, Sikkim, Bihar, Jharkhand, east MP, Rayalaseema, costal AP, interior Karnataka, &  Kerala.

Moderate to heavy rainfalls may be expected over northeast India, WB, Chhattisgarh, costal AP & Odisha.

Light to moderate rainfalls may be expected at Bihar, Jharkhand, south Rajasthan, east MP, Vidharbha, Telangana, other areas of AP, costal Karnataka, TN & Kerala.

Weather will remain dry in the rest of India.