Soybean July August Prices(Indicative
Commodity Prices in US$ PMT FOB port, India) 27th Aug - US$ 655-675
The
prices of soybean moved downwards due to drop in soybean oil prices and depricaiton
of rupee. The drop in its oil prices is mainly due to the negative movement of
palm oil. 22nd Aug - US$ 670-690
With the new crop due in Oct
the soybean prices are moving downwards. The Sept. futures are at discount of
approx 6.5% whereas Oct. futures at around 19% from present spot prices. The soyoil
future is temporarily banned in India. 18th Aug - US$ 675-700 13th Aug - US$ 675-700
Though the prices of palm oil
internationally and soy complex on Cbot showed decline, the soybean prices in
India have shown improvement mainly due to good demand for crushing to supply
soybean meal in overseas market. The prices of soy oil in India are almost on
the same level. 5th August - US$ 665-690
Soybean prices showed
the drop because of declining palm oil prices in international market and weak
movement on Cbot. The declining crude oil prices also affected the soybean cost
as oilseeds are getting used for bio-fuel thereby reducing its demand with cool
down on crude. | 
