Soybean Prices Weaken, Domestic Demand and Global Markets Remain Key
Soybean prices came under pressure again on Wednesday. The Kirti plant price fell by 60 to 7360 per quintal. In major markets, Amravati was around 6800, Barshi and Vashi 6900, and Washim and Khamgaon 6950. In Madhya Pradesh, Indore traded near 6700, Ujjain 6750, Dewas 6800 and Ashoknagar around 7000 per quintal. Domestic soybean prices are influenced not only by mandi arrivals but also by demand for soybean oil and soybean meal (DOC). Since India imports a large share of its edible oil requirement, changes in global soybean oil, palm oil and sunflower oil prices can directly affect domestic soybean prices. Higher global edible oil prices can support soybean prices, while weaker international prices may put pressure on the domestic market. Internationally, Brazils large soybean supply and Chinas buying remain important factors. Brazil is expected to have a record soybean crop in 2026/27, which could keep global supplies comfortable. Strong Chinese demand can provide support to global prices, while higher Brazilian exports or weaker demand can create pressure. Changes in US-China trade policies can also influence global soybean prices and eventually affect Indian markets. For farmers, the 7200–7050 range remains an important support zone, while 7500–7600 is a key resistance area. Apart from local mandi prices, farmers should keep an eye on weather, new-crop conditions, arrivals, soybean oil and DOC demand, as well as global developments. These factors together will determine the direction of soybean prices in the coming weeks