Normally the soybean remains weak during this time of the year, but the weather has changed the plan, strong support from International markets, continues increase in the domestic soybean oil & soybean meal prices due to short supply of soybean in the domestic markets due to rains in soybean sowing belts keeping the soybean prices firm and today the market again witness 3% circuit in future exchange. In MP states excess rains reported creating the floods in some of the soybean grown areas. In CBOT last week the soybean futures are up & have tested the high water mark. Funds were net buyers of soybean, soybean oil & soybean meal. The Analysts expect the USDA to degrade the good-to-excellent rate for US soybean crops by another 2-3% points this week.
In India the soybean prices opened firm to positive by INR 750-1000PMT due to crop damage reports in MP states and also taking cues from International markets. The soybean is trading at INR 41,240 against Friday closed at INR 40,080 and today prices traded high up by 2.99% in the future exchange.
Some of the plants have gone for maintenance and some processors have low stocks which is keeping the oils & meal prices firm.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 40,050-41,250 | |
| Maharashtra | 40,050-41,750 | |
| Rajasthan | 40,050-41,250 | |
| Rest India | 40,000- 40,750 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Most of the processors have increased the soybean meal prices by INR 500 -600 PMT. The soybean meal prices range INR 32,500-36,000+ 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 also improve today from INR 500 PMT. 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 24,300-500 PMT but importers stick to their prices.
The rapeseed meal prices are opened firm to positive & improve by INR 200-300 PMT in the domestic market.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 32,500-33,800 |
| Maharashtra | 33,500-36,000 |
| Rajasthan | 34,000-34,500 |
| Karnataka | 34,000-34,800 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 35,000+GST |
| Kandla-FAS (in USD/PMT) | 465 |
Sunflower Meal:
| Sunflower Meal Domestic Ex- Location | ||
| State | Plant Price (in INR-PMT)* | Min Protein |
| Karnataka | NQ | 26% |
| Karnataka | 21,500-22,000 | 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 | 17,300-17,800 |
| Madhya Pradesh | 17,500-17,800 |
| *+GST 5% | Moral condition |
| Rapeseed Meal at Kandla Port Ex- Location | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 17,600-17,700+GST5% |
| Kandla-FAS (in USD/PMT) | 240 |
Weather
In the last 24 hours, moderate to heavy rainfall observed at WB, Sikkim, Assam, Rajasthan, Gujarat, some parts of MP & Vidharbha.
Light to moderate rains observed at north east India, some parts of Bihar, some parts of UP, Uttarakhand, north India, west-north MP, Chhattisgarh, AP, Odisha, Karnataka & TN.
Low pressure area is observed at north east India, costal AP, south TN & west Rajasthan.
Within next 24 hours moderate to heavy rainfall may be expected over WB, Sikkim, Assam, east UP, south & west Rajasthan, kutch of Gujarat, east MP, Vidharbha, Telangana interior Karnataka, some parts of TN & some parts of Kerala
Light to moderate rainfall may be expected over northeast India, Bihar, rest area of UP, Uttarakhand, north India, rest other areas of Rajasthan, Gujarat, rest areas of MP, Chhattisgarh, costal AP, Rayalaseema, some parts of Odisha, & costal Karnataka.