Indian Soybean Prices Dropped 42.56% YoY in W1 Amidst Increased Arrivals and Global Production Pressures

In W1, soybean prices in India dropped significantly by 42.56% YoY to USD 0.47/kg. This decline is linked to increased soybean arrivals, reaching 385 thousand bags in W1 of 2024, influencing the ongoing softening trend. The anticipation of high soybean production in Brazil and Argentina further contributes to the decline in global and Indian soybean prices, exacerbated by the ban on soybean futures trading by the Indian government.