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India NonGM SoyMeal has now least Value for USA-India Exports to US dropping very fast-NonGM Premium in USA too fades-Jan/Feb India Premium just $12 Ton to US Other suppliers-US Jan/Feb Meal average Cif Values $674 Ton/India Cargo $686 Ton-so India out of US SoyMeal shoppers list

Brazil 2024 Yr SoyOil Exports may not show big Volume as lower Soy crop with higher BioDiesel blend wud leave less surplus for Exports-Jan/March 2.42 LacTon Exports ratio very poor to last 2yrs Exports-India buys 71% of Brzl Jan/March 2.42 LT Export-India share 51% in Argntna 10.53 LT export

Brazil USA Soy farmers remains safe even with Prdn surge-USA Brzl past 3yrs shipping 82-85% of Year Soy Exports to 5 Top buyers-China remains Top buyer of US Brzl-Brzl/USA needs double buyers than Soybean for Meal shipments-Top 10 buyers covers 70/80% of USA Brzl Full year SoyMeal Exports

Sopa report Analysis-

SOPA estimate season Soy supply 135.31 LT available for Crush-6 mths arrival 77.50 LT, similar to LY-Half season Crush 67.50 LT/2 LT more to LY-so 50% of season supply crushed-March Farmers/Trade stok estimated 64.83 LacTon vs LY 70.23 LT-Meal Prdn 53.26 LT-Export 13.47 LT/Local use 35 LT SOPA believes season end Soybean stok wud drop …

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VegOils tone normally ease in April on many reasons-Mustard crop high arrivals-SouthAmerica harvests peaking-US new crop sowing intentions *6 VegOils average April 2023 Prices drops Rs 9kg vs March average Rs 102kg-KolhuOil:big Rs 16kg drop-Soy/Cot/SunRef eased Rs 10kg-Olin lost Rs 4kg

Mustard yet to show season record high supplies effect-begins season 1 April Rs 200 below LY Rs 5665/Meal too same as LY Rs 2560-KolhuOil Rs 6kg below LY 108-Jaipur Mustard LY hit season low Rs 5088 on 31 May/sharp Rs 750 drop to 31 March Rs 5812-higher Mustard supplies effect yet to seen