Soybean
In India the soybean prices opened positive initially and later on profit booking push the market down in the future exchange. MDEX also traded slight weak today. In yesterday CBOT, soybean traded weak due to higher crop and ideal weather keeping growing condition great for new crop. The thoughts of a bigger crop is limiting the upside. The USDA also released a private export announcement showing 126,000 metric tons of new crop soybean to China. The market keeps worrying about new sales to China as tensions between the US and China grow. There is also some concern that some of these could turn into cancellations down the road.
In India the soybean prices opened flat to positive in the domestic markets as arrivals reported low due to lockdowns and farmers also holding the old crop. The oils price and rapeseed prices remains the firm. The soybean is trading at INR 38,400 against yesterday closed at INR 38,840 and today traded high by 0.57% and low by 2.99% in the future exchange . At JNPT the african soybean prices are in range INR37,400-37,500+ GST PMT.
In India the demand of meat & poultry products are still weak due to ongoing Shravan festival. Higher carry over stock of soybean and increased sowing weigh on the soybean prices.
| State | Plant Price (in INR-PMT)* | |
| Madhya Pradesh | 37,500-38,500 | |
| Maharashtra | 38,000-39,250 | |
| Rajasthan | 38,000-38,500 | |
| Rest India | 38,000-39,250 | |
| As per moisture condition | *+GST 5% |
Market Prices:
Soybean meal prices opened flat to positive today. The processors increase the price by INR 300-400 PMT. Soybean meal prices range INR 29,000-33,000+ GST across India. The reseller are quoting soybean meal cheaper for some of the processors material by INR 200-300 PMT.
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.
The meal demand also remains weak due to ongoing shravan festival & the prospects of bumper sowing of soybean this season due to timely good rains & huge carry over weigh on soybean as well as meal.
Sunflower meal prices open flat today. The Sunflower meal pellet prices quoted by importers are in range INR 22,500- 23,500 PMT + GST ex Tuticorin & Vizag ports . The resellers are quoting in price range INR 22,300-22,400 PMT +GST at Tuticorin and INR 22,400 PMT+GST Vizag port respectively.
The rapeseed meal prices recover by INR 200-300 PMT in domestic market due to firm prices of rapeseed.
Soybean Meal:
| State | Plant Price (in INR-PMT)* |
| Madhya Pradesh | 29,000-30,900 |
| Maharashtra | 30,500-33,000 |
| Rajasthan | 30,800-31,200 |
| Karnataka | 32,200-33,000 |
| *+GST 5% | Moral condition |
| Soybean Meal Ex-Kandla Port | |
| Port | Meal Price PMT |
| Kandla-FOR(in INR/PMT) | 32,500+GST |
| Kandla-FAS (in USD/PMT) | 421 |
Weather
In the last 24 hours, moderate to heavy rainfall observed at Assam, some part of MP, some parts of Gujarat & Maharashtra, costal Odisha, costal Karnataka, interior TN & Kerala
Light to moderate rains observed at WB, Sikkim, Bihar, some parts of UP, Uttarakhand, North India, Chhattisgarh, Rajasthan, costal AP, Rayalaseema, Telangana & interior Karnataka.
Within next 24 hours moderate to heavy rainfall may be expected over costal Karnataka & Kerala.
Light to moderate rainfall may be expected over WB, Sikkim, Assam, Bihar, Jharkhand, UP, Uttarakhand, North India, MP, some parts of Rajasthan, Gujarat, some parts of Maharashtra, costal AP & Odisha.