China’s Soybean Crush Weekly (Week 19, 2018)

2018-05-14 www.cofeed.com

Attributed to grave losses in pigs industry, feed sectors have little interests in meals buying and prefer to delay soybean meal delivery, which therefore results in increasing idle plants and falling operation rate after bloated meals this week dated from May 5th to 11th. Generally speaking, national soybean crush this week is around 1,466,250 tonnes (1,165,668 tonnes of soybean meal, 263,925 tonnes of soybean oil), decreasing by 1.01% or 15,000 tonnes vis-a-vis 1,481,250 tonnes last week. Meantime, soybean processing capacity utilization plunges to 42.44%, 0.83 percentage points lower than 43.27% last week. According to Cofeed, total soybean crush in week 20 nationwide is expected to be around 1.6 Mln tonnes, and 1.62 Mln tonnes in week 21 based on resumed operation and eased stockpiles after a half month of machine shutdown in some mills.

Judging from current soybean processing capacity, May soybean crush nationwide is probably pegged at 7.35 Mln tonnes, a tad higher than 7.1792 Mln tonnes last month, but lower than 7.9191 Mln tonnes the previous year.

Soybean crush in year 2017/2018 (as from 1 October 2017) has now totaled 53,837,170 tonnes, 3.70% or 1,922,343 tonnes higher than 51,914,827 tonnes attained in year 2016/17. While national soybean crush in year 2018 (as from 1 January 2018) has increased to 29,501,550 tonnes, a growth of 0.98% or 287,521 tonnes as compared to 29,214,029 tonnes year on year.

Details for weekly crush are shown as follows: Ar

Area	Soybean Crush mT			Operation Rate (Capacity Utilization)
	Week 19	Week 18	Variation	Week 19	Week 18	Variation
Jiangsu	318500	359100	-40600	53.09%	59.86%	-6.77%
Shandong	246400	253000	-6600	41.15%	42.25%	-1.10%
Guangdong	170000	216700	-46700	42.09%	53.65%	-11.56%
Guangxi	152100	134000	18100	48.83%	43.02%	5.81%
Fujian	92800	83800	9000	54.78%	49.47%	5.31%
Tianjin	83000	93500	-10500	55.15%	62.13%	-6.98%
Hebei	74400	53000	21400	40.88%	29.12%	11.76%
Liaoning	60400	59000	1400	26.84%	26.22%	0.62%
Zhejiang	55400	27500	27900	47.68%	23.67%	24.01%
Hubei	49000	37700	11300	100.00%	76.94%	23.06%
Shaanxi	30800	18800	12000	100.00%	61.04%	38.96%
Henan	27350	37550	-10200	22.72%	31.19%	-8.47%
Sichuan	26400	29400	-3000	62.86%	70.00%	-7.14%
Shanghai	17500	7500	10000	67.57%	28.96%	38.61%
Anhui	15400	16100	-700	95.65%	100.00%	-4.35%
Heilongjiang	12600	5600	7000	7.50%	3.33%	4.17%
Chongqing	12000	16800	-4800	57.14%	80.00%	-22.86%
Jiangxi	7000	7000	0	58.82%	58.82%	0.00%
Hunan	7000	7000	0	35.71%	35.71%	0.00%
Xinjiang	4200	4200	0	75.00%	75.00%	0.00%
Jilin	4000	14000	-10000	5.19%	18.18%	-12.99%
Shanxi	0	0	0	0.00%	0.00%	0.00%
Inner Mongolia	0	0	0	0.00%	0.00%	0.00%
Total	1466250	1481250	-15000	42.44%	42.88%	-0.43%

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

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