Today soybean again opened +ve in the future exchange taking cues MDEX & Cbot. But soybean prices in second half become weak and traded low as INR 37, 360. Good sowing reports of oil seeds crop in India & weak meal demand are still putting pressure on soybean prices and not allowing to trade higher despite MP markets are closed due to strike. The soybean is trading at INR 37,500 against yesterday closed of INR 37,660 and traded high by 0.42%. The market closed weak by0.37% at INR37,520. In MDEX also some profit booking is observed in last minutes.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 37,000-38,000 | |
| Maharashtra | 37,500-39,250 | |
| Rajasthan | 36,750-37,750 | |
| Rest India | 37,750-39,000 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices recovered by INR200-300 PMT in MP and in Maharashtra market also prices recover by INR 100-200 PMT. Soybean meal prices range INR 28,700-32,800+ GST across India. For some plants material, the reseller are quoting as low as INR 28,500 PMT+ GST in MP and INR 29,700 +GST in Maharashtra.
Feed Mfgs/Poultry farmers are buying soybean meal as per their requirements, even though the poultries/feed mfgs have a limited stocks in their hand.
The meal demand is weak due to ongoing shravan festival & the prospects of bumper sowing of soybean this season due to timely good rains & huge carry over weigh on soybean as well as meal.
The Sunflower meal pellet prices quoted by importers are in range INR 22,800- 23,200 PMT + GST ex Tuticorin port & INR 22,500- 23,000 PMT + GST ex Vizag port. The resellers are quoting in price range INR 22,200-22,500 PMT +GST at Tuticorin and Vizag port respectively.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 28,700-30,200 |
| Maharashtra | 29,800-32,500 |
| Rajasthan | 29,200-29,500 |
| Karnataka | 32,000-32,800 |
| *+GST 5% | Moral condition |
Weather
In the last 24 hours, moderate to heavy rainfall observed at WB, Assam, AP, south west MP, south Gujarat, Vidharbha, north & costal Karnataka.
Light to moderate rains observed at some places at Bihar, some parts of Jharkhand, Uttarakhand, some parts of MP, Marathwada, AP, Odisha, Telangana, TN & Kerala.
Within next 24 hours moderate to heavy rainfall may be expected over WB, Sikkim, Assam, MP, Gujarat, Vidharbha, costal AP, Telangana, costal Karnataka & TN.
Light to moderate rainfall may be expected over some parts of HP, Uttarakhand, Bihar, Haryana, Punjab, west UP, east Rajasthan, AP, Telangana, some parts of Odisha & Kerala.