Today soybean again opened +ve in the future exchange taking cues MDEX & Cbot. The soybean prices are range bound & appear flat to positive due to good support from oil. The soybean is trading at INR 37,600 against yesterday closed of INR 37,540 and traded high by 0.37%. Soybean traded low by 0.37% at INR 37,400. Some of the domestics markets are closed due to lockdown in the area. MDEX also post sharp rally of 100 ringgits due to weather concerns and on lower production estimates. So far oil is supportive to oilseeds whereas meal demand is still hand to mouth.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 36,750-37,750 | |
| Maharashtra | 37,500-39,000 | |
| Rajasthan | 36,750-37,750 | |
| Rest India | 37,750-39,000 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices opened flat. 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 29,500 +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 | 28,700-30,000 |
| Maharashtra | 29,800-32,400 |
| Rajasthan | 29,000-29,300 |
| Karnataka | 32,000-32,800 |
| *+GST 5% | Moral condition |
Weather
In the last 24 hours, moderate to heavy rainfall observed at WB, Assam, Sikkim, AP, costal Karnataka & some parts of Kerala.
Light to moderate rains observed at some places at Bihar, UP, North India, west & south MP, south Chhattishgarh, Gujarat, madhya Maharashtra, costal AP, Rayalaseema, Telangana, interior Karnataka & TN.
Cyclonic circulation is still over South Gujarat and over central MP.
Within next 24 hours moderate to heavy rainfall may be expected over WB, Assam, AP, central MP, costal AP, costal Karnataka & Kerala.
Light to moderate rainfall may be expected over some parts of HP,UP, Uttarakhand, Bihar, Haryana, Punjab, east Rajasthan, south west MP, south Chhattisgarh, Gujarat, AP, Telangana & some parts of Odisha.