Soyabean Weekly Market Report
The soyabean market witnessed a firm trend last week. Prices opened on Monday at ₹5,800 per quintal in Solapur, Maharashtra, and closed on Saturday evening at ₹5,950 per quintal, marking a weekly gain of ₹150 per quintal. Consistent demand throughout the week provided strong support to prices. Soyabean plant delivery prices have surged sharply from earlier lows, rising by approximately ₹1,700–1,800 per quintal and touching a three-year high. Tight stock availability, coupled with rising prices of soyameal and soya oil, has been the key driver behind the ongoing rally. However, Indian soyabean is currently trading at a premium of nearly USD 170 per tonne over Brazilian origin, which is impacting export competitiveness. Additionally, expectations of a large soyabean crop in Brazil could exert pressure on global soyameal prices in the coming months. Maharashtra – Kirti Plant Soyabean prices at the Kirti plant achieved the targeted level of around ₹6,150 per quintal during the week. This level has emerged as a strong resistance zone, where profit-booking activity was observed. Market arrivals remain extremely low, averaging 1.25–1.5 lakh bags per day, indicating continued tight supply. While fundamentals remain supportive, technical indicators suggest that the market has entered an overbought zone. On the downside, ₹5,750 per quintal is identified as a strong support level. As long as this level is maintained, the overall market sentiment is expected to remain positive.