Today the soybean prices again opened +ve in India taking the support from International markets. MDEX also remains supportive . In yesterday Cbot, in the soybean & soybean meal the profit taking was observed as crop progress weigh on market but soy oil traded six months high. China soybean demand remained weak yesterday. The USDA released a private exporter announcement of 130,000 mt of new crop sold to unknown destinations. Erratic buying interest was heard for both US and the Brazilian soybean despite weaker premiums.
The soybean prices opened positive and traded up by INR 400-500 PMT. Soybean is trading at INR 38,140 against yesterday closed at INR 37,680 and today traded high by 1.38 % in the future exchange. The soybean prices recovered at the closing time & tater the soybean closed at high at INR 38200 in the future exchange.
In India the demand of meat & poultry products are still weak. Higher carry over stock of soybean and increased sowing weigh on the soybean prices.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 37,750-39,000 | |
| Maharashtra | 37,750-39,250 | |
| Rajasthan | 37,750-38,750 | |
| Rest India | 38,000-39,000 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Soybean meal prices opened +ve today and prices improve by INR 300-400 PMT across India. Soybean meal prices range INR 29,300-32,500+ GST across India. The Processors remains firm today and selling for ready delivery only. In second half some of the processors have increase the meal prices by INR 200-300 PMT as per demand in their locations.
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 flat today. The Sunflower meal pellet prices quoted by importers are in range INR 22,800- 23,800 PMT + GST ex Tuticorin port & INR 22,800-23,300 ex Vizag port. The firm demand from buyers in range INR 22,700-800 PMT but importers stick to their prices.
The rapeseed meal prices open flat today in the domestic market.
Weather
In the last 24 hours, moderate to heavy rainfall observed at WB, Sikkim, Assam, some parts of UP, Uttarakhand, east MP, saurashtra & kutch of Gujarat, Vidharbha, costal Odisha & costal Karnataka.
Light to moderate rains observed at Bihar, Jharkhand, North India, east Rajasthan, some other areas of MP, Chhattisgarh , east Gujarat, some other part of Maharashtra, Telangana, AP, interior Karnataka, TN & Kerala.
A cyclonic circulation is seen over Gujarat, North east MP & Bay of Bengal.
Within next 24 hours moderate to heavy rainfall may be expected over WB, Sikkim, north west UP, Uttarakhand, Haryana, Punjab, some part of Gujarat, east and central MP, some parts of Chhattisgarh, Vidharbha, Odisha & Telangana.
Light to moderate rainfall may be expected over northeast India, Bihar, Jharkhand, other areas of UP & MP, central Maharashtra, Marathwada, Rayalaseema, AP, interior & costal Karnataka, TN & Kerala.