Soybean Report

In several regions of Madhya Pradesh, the harvesting of soybeans has begun, and the arrival of the new crop in the markets is gradually increasing. Experts believe that there could be a bumper arrival of soybeans in the markets within the next 15 days. Currently, soybeans with moisture levels ranging from 10% to 28% are being sold in the markets. Just one month before the soybean harvest, farmers began a movement to increase soybean prices. Their demand was to raise soybean prices to ₹6000 per quintal. However, this movement did not have a significant impact, but the government decided to purchase soybeans at a support price. In Madhya Pradesh, Maharashtra, Telangana, and Andhra Pradesh, the government may purchase soybeans at the rate of ₹4892 per quintal. The arrival of both new and old soybeans in the markets has begun to increase. Major markets in Indore and Ujjain are seeing a rapid influx of new soybeans. On Monday, Ujjain market recorded an arrival of 6500 bags of soybeans, of which approximately 1000 bags were of the new crop. The auction for old soybeans took place at prices of ₹4655/4736 per quintal, while new soybeans sold for ₹3501/4485 per quintal. Soybean plants typically purchase soybeans with 15% moisture. Currently, new soybeans with moisture levels between 18% and 28% are arriving in the markets, while the moisture level in old soybeans is up to 10%.

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