Weekly Soybean Report

Current Market Developments:

  • Soybean prices in major spot markets of Rajasthan and Madhya Pradesh have declined in last fortnight. Supplies in markets have remained more than sufficient as compared to subdued demand from traders and stockiest.
  • The overall weakness in edible oil complex has also kept pressure on Soybean prices.
  • In the last fortnight Soybean prices in Akola has declined by 4 percent, Nagpur prices declined by 3 percent and at Indore market also prices have declined by 5 percent as Moreover, the buying from mills/plants and poultry industry have remained at weak.  
  • According to SOPA, from 01st October to June 2022 around 75 lakh tonnes of Soybean has arrived in markets. Out of which 60 lakh tonnes crushing has been done. And as on 01st July traders, mills and farmers are holding around 48 lakh tonnes of Soybean stock with them. Moreover, around 3.39 lakh tonnes of Soybean imports have been done between October 2021 to June 2022.
  • In the global markets also, Soybean futures have remained weak at CBOT as the US Department of Agriculture forecasted weaker demand for oilseed and larger than expected domestic and world supplies in its monthly report.
  • According to the Ministry of Agriculture, third crop advance estimates Soybean 2021-22 production is estimated higher by 10 percent at 138.28 lakh tonnes as compared to 126.10 lakh tonnes produced in 2020-21.

Soybean Price Trend Vs Seasonality at Key Markets

Progress Under Kharif Soybean Acreage:  Major States

Soybean Area, Production and Yield: India & Major States

Disclaimer:

This report is prepared by “agribazaar”. Information and opinions in this report have been taken from publicly available data and from sources believed to be reliable. Neither the report nor any part of the report shall be replicated without the written consent. agribazaar does not make any representations or warranties in relation to the accuracy, completeness and correctness of data or information contained in this report. Use of the data, information or opinions contained in this report is at the sole risk of the recipient of this report, and any such data, information or opinion should be independently verified. agribazaar, its affiliates, their officers, directors and employees shall not be responsible for any loss or damage that may arise to any person from any error in the data, information or opinion contained in this report.

“agribazaar” 2022.

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