Today soybean recovered in India in the future exchange taking support from oils & rapeseed. In MDEX , oil prices are also trading up. In yesterday CBOT, some profit booking was observed initially in soybean, later soybean recovered and able to show the gains. The soybean oil was supportive and the strongest aspect of the soy complex in CBOT. The weather concerns in the midwestern part of the US causing concerns that yields might be lowered coupled with the fact that China has come back into this market big time with large purchases. The China buying interest has returned with some November cargoes trading, despite high offers seen for soybean from sellers in the US. The China has covered about 50% of November demand so far.The funds are long and holding a sizable position in the soybeans.
In India the soybean prices recovered after two days weak trading with major support of oils and slow arrivals of soybean in the domestic market. The soybean is trading at INR 39,040 against yesterday closed at INR 38,880 and today soybean prices traded up by 1.75% in the future exchange.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 39,250-40,000 | |
| Maharashtra | 38,500-40,500 | |
| Rajasthan | 39,500-40,500 | |
| Rest India | 39,250- 40,000 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Today soybean meal prices opened flat. The reseller are quoting soybean meal prices lower by INR 200-300 PMT. The soybean meal prices range INR 31,000-34,600+ GST across India.
The meal demand is limited and the 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.
Sunflower meal prices open firm. The Sunflower meal pellet prices quoted by importers are in range INR 25,000- 25,500 PMT +GST ex Tuticorin port & INR 24,500-25,000 ex Vizag port. The firm demand from buyers are in range INR 24,000-200 PMT.
The rapeseed meal prices opened firm in the domestic market.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 31,000-33,800 |
| Maharashtra | 32,600-34,600 |
| Rajasthan | 33,900-34,200 |
| Karnataka | 33,000-34,000 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 34,500+GST |
| Kandla-FAS (in USD/PMT) | NQ |
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 | 25,000-25,500 | 35% |
| Ukraine Origin -Pellets(in INR/PMT) Vizag | 24,500-25,000 | 35% |
| *+GST 5% | Moral condition | |
Rapeseed Meal:
| Rapeseed Meal Domestic Ex- Location | |
| State | Plant Price (in INR-PMT)* |
| Rajasthan | 17,400-18,000 |
| Madhya Pradesh | 17,800-18,100 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 17,700-17,800+GST5% |
| Kandla-FAS (in USD/PMT) | NQ |
Weather
In the last 24 hours, moderate to heavy rainfall observed at Assam, some areas of UP, MP, Telangana, AP, interior & costal Karnataka, TN & Kerala.
Light to moderate rains observed at WB, some parts of Bihar, Jharkhand, some other parts of UP, Uttarakhand, south Rajasthan, Chhattisgarh & Odisha.
A cyclonic circulation is seen over Assam, central MP, costal AP, costal area of TN & Kerala.
Within next 24 hours moderate to heavy rainfall may be expected over Assam, Bihar, Uttarakhand, east Rajasthan, MP, interior Karnataka, some parts of TN & Kerala.
Light to moderate rainfall may be expected over north east India, east & west UP, north India, west Rajasthan, Chhattisgarh, Maharashtra, Telangana, costal AP & costal Karnataka.