China's Soybean Crush Weekly (Week 3, 2018)
As operation rate is seen recovered in China’s oil mills this week (Jan. 13th-Jan. 19th), national soybean crush now totals 1,904,750 tonnes (1,514,276,tonnes of soybean meal, 342,855 tonnes of soybean oil), growing by 4.85% from last week’s 1,816,500 tonnes and 88,250 tonnes above last week. Meantime, soybean crush capacity utilization is increased to 55.77%, 2.58 percentage points higher than last week’s 53.19%. In general, operating rate will further inch upward seeing profitable crush margins and full operation state in most mills. Moreover, soybean weekly crush may rise to 1.95 Mln tonnes and 1.98 Mln tonnes in the following weeks, respectively in wake of a build up in inventory ahead of holidays and relatively high operating rate.
Soybean crush in year 2017/2018 (as of 1 October 2017) has now amounted to 29,274,620 tonnes, 5.05% or 1,408,662 tonnes higher than the figure attained in year 2016/17 of 27,865,958 tonnes. While soybean crush in civil year 2018 (as of January 1, 2018) has totaled 4,939,000 tonnes, a reduction of 487,369 tonnes, or 8.98% from the 5,426,369 tonnes for the same period in 2017.
Figure: Trends of Soybean Weekly Crush in China (2010-2018)
