China Soybean Crush Weekly (Week 4, 2018)
As operation rate is further lifted in China’s oil mills this week (Jan. 20th-Jan. 26th), national soybean crush now amounts to 1,995,050 tonnes (1,586,064 tonnes of soybean meal, 359,109 tonnes of soybean oil), growing by 4.74% from last week’s 1,904,750 tonnes and 90,300 tonnes above last week. Meantime, soybean crush capacity utilization is increased to 58.42%, 2.65 percentage points higher than last week’s 55.77%. In general, operating rate will further inch upward seeing profitable crush margins, large volume in contracts to implement and full operation state in most mills. Moreover, soybean weekly crush may rise to 2.02 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 amounted to 31,269,670 tonnes, 7.87% or 2,282,649 tonnes higher than the figure attained in year 2016/17 of 28,987,021 tonnes. While soybean crush in civil year 2018 (as of January 1, 2018) has totaled 6,934,050 tonnes, a growth of 386,618 tonnes, or 5.90% from the 6,547,432 tonnes for the same period in 2017.
Figure: Trends of Soybean Weekly Crush in China (2010-2018)
