Today soybean opened flat to positive in India in the future exchange taking cues from oils & International markets. In MDEX some profit booking is observed. Yesterday in CBOT, the soybean shown the continuous rally after long time after the China stepped up purchases in recent months to meet their soybean demand. USDA announced two large new crop soybeans export sales of 132,000 metric ton to unknown & 238,000 metric ton to China for the delivery in 2020-21.USDA lowered the US crop condition rating from previous week and also the US basis market continued to push soybean higher following strong purchase from China in recent months. Another reason for the firmness is the worries about crop killing Frost in parts of US Midwest so prices firming at time when US soybean export set to boom on South America dry supply. May be USDA reduce the soybean yield on Midwest dryness.
In India the soybean prices opened flat in the domestic markets. In MP states new crop soybeans arrivals reported around 800-1000 MT with moisture condition 14%-25%. The soybean is trading at INR 38,820 against yesterday closed at INR 38,220 and today soybean prices traded high by 1.73% and closed firm.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 37,750-38,500 | |
| Maharashtra | 37,500-39,250 | |
| Rajasthan | 38,000-38,750 | |
| Rest India | 37,750- 38,750 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices opened flat but later on recovered with improvement in soybean prices in future exchange with support of oils. The soybean meal prices range INR 30,500-33,500+ GST across India. Most of the processors have increased the soybean meal prices in SH by INR 500-1000 PMT with firmness of soybean in the future exchange.
Sunflower meal prices open firm. The Sunflower meal pellet prices quoted by importers are in range INR 24,500- 25,000 +GST PMT ex Tuticorin port & INR 24,000-24,800+GST PMT ex Vizag port. Resellers are quoting INR23,900-24,000 +GST PMT. The firm demand from buyers are in range INR 23,500 -700 PMT.
The rapeseed meal prices opened flat in the domestic market.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 30,500-32,000 |
| Maharashtra | 31,500-33,000 |
| Rajasthan | 32,000-32,500 |
| Karnataka | 31,500-33,000 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 32,500+GST |
| Kandla-FAS (in USD/PMT) | 453 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | 19,000-19,300 | 26% |
| Karnataka | 21,000-21,500 | 32% |
| *+GST 5% | Moral condition | |
| Sunflower Meal Ex- Tuticorin & Vizag Ports | ||
| Port | Meal Price PMT | Min Protein |
| Ukraine Origin -Pellets(in INR/PMT) Tuticorin | 24,500-25,000 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | 24,000-24,800 | 35% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 17,000-17,100 |
| Madhya Pradesh | 17,400-17,800 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 17,400-17,500+GST5% |
| Kandla-FAS (in USD/PMT) | 249 |
Weather
In the last 24 hours, moderate to heavy rainfall observed at WB, Sikkim, Assam, Uttarakhand, east Rajasthan, central Maharashtra, Marathwada, Karnataka & Kerala.
Light to moderate rains observed at some areas of Bihar, Jharkhand, UP, Punjab, Haryana, MP, Chhattisgarh, Odisha & TN.
Within next 24 hours moderate to heavy rainfall may be expected over northeast India WB, Sikkim, AP, Assam, UP, east Rajasthan, south east Gujarat, some areas of MP, Chhattisgarh, Maharashtra, Telangana, Odisha, interior & costal Karnataka & Kerala.
Light to moderate rainfall may be expected over north east India, Bihar, Jharkhand, Uttarakhand, some other areas of Rajasthan, some other areas of Gujarat, costal AP, Rayalaseema & TN
The heavy rainfalls if occurred in the soybean grown areas are not good for the present crop.