China’s Soybean Crush Weekly (Week 22, 2018)

2018-06-05 www.cofeed.com

With Shanghai Cooperation Organization (SCO) Summit to be held in Qingdao in June, most mills in Shandong province now suspend operation during May 30th and June 11th period, therefore national soybean crush this week comes into at 1,629,100 tonnes (1,286,989 tonnes of soybean meal, 309,529 tonnes of soybean oil) in the midst of lowered operation rate nationwide this week (May 26th-June 1st), basically down 21,350 tonnes by 1.28% vis-a-vis 1,650,450 tonnes last week. Meantime, soybean processing capacity utilization falls to 47.16%, 0.72 percentage points lower than 47.78% last week. Total soybean crush in week 23 next week, according to Cofeed, will probably stay at 1.64 Mln tonnes based on basically unchanged operation rate, whereas total crush will again climb to as high as 1.84 Mln tonnes in week 24 when mills are to resume operation after the SCO Summit.

Soybean crush in year 2017/2018 (as from 1 October 2017) now amounts to 58,699,170 tonnes, up 1,410,893 tonnes by 2.46% from 57,288,277 tonnes attained in year 2016/17. While national soybean crush in calendar year 2018 (as from 1 January 2018) has fallen to 34,363,550 tonnes, down 223,929 tonnes by 0.64% as compared to 34,587,479 tonnes year on year.

Details for weekly crush are shown as follows:

No.	Area	Soybean Crush mT			Operation Rate (Capacity Utilization)
		Week 22	Week 21	Variation	Week 22	Week 21	Variation
1	Jiangsu	313,000	351,500	-38,500	52.18%	58.59%	-6.42%
2	Shandong	258,200	341,900	-83,700	43.12%	57.09%	-13.98%
3	Guandong	224,200	200,200	24,000	55.51%	49.57%	5.94%
4	Guangxi	159,600	181,600	-22,000	51.24%	58.30%	-7.06%
5	Hebei	129,400	122,400	7,000	71.10%	67.25%	3.85%
6	Fujian	116,000	83,500	32,500	68.48%	49.29%	19.19%
7	Liaoning	74,700	92,800	-18,100	33.19%	41.24%	-8.04%
8	Tianjin	73,000	56,000	17,000	48.50%	37.21%	11.30%
9	Henan	55,200	25,150	30,050	45.85%	20.89%	24.96%
10	Hubei	42,000	46,000	-4,000	85.71%	93.88%	-8.16%
11	Sichuan	38,400	27,900	10,500	91.43%	66.43%	25.00%
12	Zhejiang	35,000	35,000	0	30.12%	30.12%	0.00%
13	Shaanxi	23,600	0	23,600	76.62%	0.00%	76.62%
14	Hunan	19,600	10,600	9,000	100.00%	54.08%	45.92%
15	Heilongjiang	19,600	19,600	0	11.67%	11.67%	0.00%
16	Chongqing	16,800	12,000	4,800	80.00%	57.14%	22.86%
17	Anhui	15,400	15,400	0	95.65%	95.65%	0.00%
18	Jiangxi	7,000	7,000	0	58.82%	58.82%	0.00%
19	Jilin	4,400	4,400	0	5.71%	5.71%	0.00%
20	Xinjiang	3,000	0	3,000	53.57%	0.00%	53.57%
21	Inner Mongolia	1,000	0	1,000	8.40%	0.00%	8.40%
22	Shanghai	0	17,500	-17,500	0.00%	67.57%	-67.57%
23	Shanxi	0	0	0	0.00%	0.00%	0.00%
	China Total	1,629,100	1,650,450	-21,350	47.16%	47.78%	-0.62%

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

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