Domestic

• At Indore, Soybean seed prices decreases by 1% to INR 5090 per 100 KGs reported on the previous day. Soy oil prices increased by 2% to 945 per 10 KGs from 955 per 10 KGs on the previous day. Whereas Soy Meal prices were down by 0.01% to INR 40800 per tonne.

• The area under oilseed including soybean cultivation was down 10.4% on year at 11.4 million ha as on Jul 14 according to the Agriculture ministry.

• India’s edible oil imports since November 2022 are at 10.4 million tonne against 8.5 million tonne a year ago.(SOPA)

• Maharashtra govt to support farmers in case of re-sowing

• Soybean should become the next egg. Needs NECC-type campaign, support

• Very Heavy Rains to Pelt Maharashtra, Madhya Pradesh

International

• Soybeans November up 7c/bushel to 1378 c/bushel

• U.S. soybean processors crushed fewer beans than expected in June as the monthly crush slumped to a nine-month low (NOPA)

• Weekly condition ratings for the U.S. soybean improved more than expected in the past week following rains in portions of the Midwest and Plains, U.S. According to government data on the previous day.

• The U.S. Department of Agriculture (USDA) rated 55% of the soybean crop as good to excellent in its weekly crop progress report, up 4 percentage points from a week ago and above a range of trade expectations.

• Commodity funds were net sellers of CBOT Soy oil futures contracts on the previous day, and net buyers of soybean and soymeal futures.

• Palm oil extends gains for third session ahead of holiday

• Heatwave updates: Extreme temperatures hit Europe, Asia, US