Today soybean opened positive in India in the future exchange due to support of oils & International markets. China continue buying soybean from US and yesterday again the USDA announced 195,000 metric ton of soybeans sale to China for the delivery period 2020-21. The soybean prices continued on an upward trend driven by strong buying seen from China. In yesterday cbot the new crop soybeans were little weak and traded sideways on the fear that USDA may not cut new crop soybean yields much. Attached September 2020 WASDE Pre report -Soybeans.
In India the soybean prices opened flat to positive in the domestic markets and in Maharashtra soybean prices went up due to rains in some of the areas and low arrivals. Today in the future exchange soybean opened at high in the morning & is trading at INR 38,730 against yesterday closed at INR 38,810 and soybean prices traded low by 1.03% but from SH the soybean prices started to recover.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 37,750-38,500 | |
| Maharashtra | 37,750-39,750 | |
| Rajasthan | 37,750-38,500 | |
| Rest India | 37,500- 38,500 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices opened flat. The soybean meal prices range INR 30,500-33,500+ GST across India. Most of the processors in Maharashtra have increased the SBM prices in SH by INR 200-500 PMT with recovery in soybean prices 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 | 30,500-32,500 |
| Maharashtra | 31,800-33,500 |
| Rajasthan | 32,000-32,500 |
| Karnataka | 31,900-33,000 |
| *+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 | 17,000-17,600 |
| 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, south MP, Chhattisgarh, south Maharashtra, Marathwada, Odisha, Karnataka & Kerala.
Light to moderate rains observed at some areas of Bihar, Jharkhand, UP, Uttarakhand, other areas of MP & Maharashtra, & TN.
A cyclonic circulation is seen over WB & costal Karnataka.
Within next 24 hours moderate to heavy rainfall may be expected over northeast India WB, Sikkim, AP, Assam, UP, east Rajasthan, south east Gujarat, south MP, Chhattisgarh, interior Maharashtra, Marathwada, Telangana, Odisha, costal Karnataka & Kerala.
Light to moderate rainfall may be expected over north east India, Bihar, Jharkhand, east UP, Uttarakhand, south east Rajasthan, some other areas of Gujarat, AP, Rayalaseema, interior Karnataka & TN.
The heavy rainfalls if occurred in the soybean grown areas are not good for the present crop.