Comments: according to Cofeed latest statistics, soybean oil in Chinese business inventories this week has been down 2.2% from 1,650,380 tonnes to 1,614,000 tonnes the same period last week with a reduction of 36,380 tonnes, and the figure is 4.43% lower than 1,688,800 tonnes the corresponding period last month with a reduction of 74,800 tonnes, but still 82.62% higher than 883,800 tonnes year on year with an increase of 730,200 tonnes. Generally, two reasons account for the falling stocks in soybean oils, for one thing, operating rate slides sharply this week (Dec. 30th-Jan. 5th) factored in environmental inspections, holidays for New Year’s Day and bloated soybean meal in some inventories facilities, given that, national soybean crush this week totals 1,683,750 tonnes (1,338,581 tonnes of soybean meal, 303,075 tonnes of soybean oil), 14.12% or 276,900 tonnes lower than 1,960,650 tonnes attained in the week before. Moreover, capacity utilization of soybean crush is down to 49.30% from 57.41% last week by 8.11 percentage points. For another, with Chinese Lunar New Year around the corner, traditional stockpiles in the run-up to holidays are now under way, as a result, turnover of domestic soybean oil turn good on the back of fast delivery in oil mills.