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China’s Soybean Crush Weekly (Week 16, 2018)

2018-04-23 www.cofeed.com
    As operation rate in oil mills is further improved this week (Apr. 14th-20th), national soybean crush now amounts to 1,805,200 tonnes (1,435,134 tonnes of soybean meal, 324,936 tonnes of soybean oil), generally rising by 6.99% or 118,000 tonnes as opposed to 1,687,200 tonnes last week. Meantime, soybean processing capacity utilization is up to 52.86%, 3.45 percentage points higher than 49.41% last week. Generally speaking, total soybean crush in next week (week 17) is expected to hit a high level of 1.83 Mln tonnes and even to 1.88 Mln tonnes in week 18 based on large soybean arrivals, healthy crush margins and possibly lifted operation rate if most oil mills continue the normal or full operation.
   
    Judging from current soybean processing capacity, April soybean crush nationwide is estimated to be around 7.42 Mln tonnes, higher than 7.3631 Mln tonnes last month and 7.13284 Mln tonnes the previous year.

    Soybean crush in year 2017/2018 (as from 1 October 2017) has now totaled 49,170,920 tonnes, 6.01% or 2,786,443 tonnes higher than 46,384,477 tonnes attained in year 2016/17. While national soybean crush in year 2018 (as from 1 January 2018) has risen to 24,835,300 tonnes, a growth of 4.86% or1,151,621 tonnes as compared to 23,683,679 tonnes year on year.


                       Figure: Trends of Soybean Weekly Crush in China (2014-2018)