Current market price of Indian soybean

The current market price of soybean in Indore, Madhya Pradesh, is USD 89 per 100Kg. For the month ahead, soybean plant delivery prices at Indore are expected to gain marginally. A strong rally in the global soybean complex is aiding the sentiment at home, causing the bean prices to rise. Relatively slow farmer selling along with lower crush has helped the trend. However, the poultry sector has already switched to other cheaper protein sources to some extent. Higher bean prices and negative crush margins will keep crushers' appetites muted. For the month ahead, soybean prices are expected to rise to the season-high levels at around USD 91-USD 94 per 100Kg; the upside may not sustain, though.