Today soybean opened positive in the future exchange taking cues MDEX. The first half MDEX opened strong and later some profit booking was observed in the start of second session. The soybean is trading at INR 37,640 against yesterday closed at INR 37,680 and today traded high by 1.22% & low by 0.32%. In International market the oil prices are also supported by the sharp gain in crude oil prices. The demand of meat & poultry products are weak now a days due to ongoing Shravan festival and thus the meals demand are not picking up. So selling oilmeal at higher prices are still a challenge.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 37,000-38,000 | |
| Maharashtra | 37,750-39,250 | |
| Rajasthan | 37,000-38,000 | |
| Rest India | 38,000-39,000 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today again soybean meal prices opened flat. Soybean meal prices range INR 29,000-32,800+ GST across India. For some plants material, the reseller are quoting as low as INR 28,600 PMT+ GST in MP and INR 29,600 +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 remains 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- 23,300 PMT + GST ex Vizag port. The resellers are quoting in price range INR 22,300-22,400 PMT +GST at Tuticorin and Vizag port respectively.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 29,000-30,300 |
| Maharashtra | 30,000-32,600 |
| Rajasthan | 29,400-29,800 |
| Karnataka | 32,100-32,800 |
| *+GST 5% | Moral condition |
Weather
India has received rainfall 6% above than normal as per IMD. The rainfall has been more than normal in the south peninsula, central India, and east and northeast India divisions, but in the northwest India division there has been a 19% deficiency till now.
In the last 24 hours, moderate to heavy rainfall observed at WB, Assam, Sikkim, AP, Bihar, North India, UP, east-south MP & Chhattisgarh.
Light to moderate rains observed at some places at some parts of Rajasthan, Gujarat, costal AP, Telangana, Odisha, costal Karnataka & Kerala.
Cyclonic circulation has been seen over south central Maharashtra, north Karnataka & also over south west UP.
Within next 24 hours moderate to heavy rainfall may be expected over WB, Sikkim, Assam, AP, some part of Bihar, North India, south MP, Vidharbha & Marathwada .
Light to moderate rainfall may be expected over UP, Chhattisgarh, some parts of Rajasthan, Gujarat, costal AP, Telangana, Odisha, costal & interior Karnataka , some parts of TN & some parts of Kerala.