In India, Yesterday soybean prices opened firm to positive taking cues from the CBOT and also getting the support from MDEX. Yesterday in CBOT soy complex rallied and soybean prices taking double digits gains due to low supply from SA, firmer edible oils prices and weaker US currency. Another reason for soy complex rally was better than expected weekly export sales data. Yesterday the USDA export sales report showed soybean bookings for the week ending 10th December 2020 were above the range of estimates as 922,266 metric tons were sold and the China was the top purchaser on the week, with 202k metric tons of new sales and 717k metric tons switched form unknown. China’s accumulated commitments account for 58% of the record 58.8 million metric tons commitments for the year to date.
The soy products supplies out of Argentina continue to be disrupted by strikes. According to BAGE weekly agricultural outlook report, soy planting in Argentina advanced 10.7% on the week reaching 67.8% of the total projected area of 17.2 million hectares. Despite the advance, planting is 2.5% slower year on year.
Today soybean prices recovered and improved by INR 250-300 PMT in the domestic markets due to support from the edible oils prices. All India soybeans arrival are reported around 28,000-30,000 metric tons in the domestic markets. In the future exchange soybean prices opened firm to positive and traded high by 2.47% & closed at INR 44,280 against yesterday close of INR 43,670.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 44,000-45,000 | |
| Maharashtra | 43,750-45,500 | |
| Rajasthan | 44,000-44,750 | |
| Rest India | 44,500- 45,750 | |
| As per moisture condition | *+GST 5% |
Market Prices :
The soybean meal prices opened firm in the domestic market with the recovery in soybean prices. Still the soybean meal demand is hand to mouth. The soybean meal prices range INR 32,700-35,800+ GST across India. Reseller are quoting soybean meal prices lower by INR 200-300 PMT.
The Sunflower meal pellet prices remains same & the importers are quoting in the price range INR 28,000- 28,500 +GST PMT ex Tuticorin port. Whereas resellers are quoting prices INR 27,800-27,900 +GST PMT.
The rapeseed meal prices opened flat today in the domestic markets.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 32,700-34,200 |
| Maharashtra | 32,900-35,000 |
| Rajasthan | 33,200-34,200 |
| Karnataka | 34,500-35,800 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 35,100 -35,300+GST |
| Kandla-FAS (in USD/PMT) | 489 |
| Rapeseed Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | |
| Rajasthan | 18,600-19,500 | |
| Madhya Pradesh | 18,700-19,400 | |
| *+GST 5% | Moral condition | |
| Rapeseed Meal at Kandla Port Ex- Location | ||
| Port | Meal Price PMT | |
| Kandla-FOR(in INR/PMT) | 19,000-19,200+GST5% | |
| Kandla-FAS (in USD/PMT) | 271 | |