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

2018-06-11 www.cofeed.com

National soybean crush this week comes into at 1,651,350 tonnes (1,304,566 tonnes of soybean meal, 313,756 tonnes of soybean oil) in the midst of lifted operation rate this week (June 2nd-8th), up 22,250 tonnes by 1.36% vis-a-vis 1,629,100 tonnes last week. Meantime, soybean processing capacity utilization rises to 47.80%, 0.64 percentage points higher than 47.16% last week. Total soybean crush in week 24 next week, according to Cofeed, will probably rise to 1.83 Mln tonnes and 1.9 Mln tonnes in week 25 based on recovered operation in Shandong province one after another after SCO Summit (June 11th) .

Based on current soybean processing capacity, June soybean crush nationwide is forecast to be 7.57 Mln tonnes, a tad higher than 7.05 Mln tonnes last month, and basically unchanged from 7.56 Mln tonnes year on year.

Soybean crush in year 2017/2018 (as from 1 October 2017) now amounts to 60,350,520 tonnes, up 1,331,443 tonnes by 2.25% from 59,019,077 tonnes attained in year 2016/17. While national soybean crush in calendar year 2018 (as from 1 January 2018) has fallen to 36,014,900 tonnes, down 303,379 tonnes by 0.83% as compared to 36,318,279 tonnes year on year.

Details for weekly crush are shown as follows:

No	Area	Soybean Crush mT			Operation Rate (Capacity Utilization)
		Week 23	Week 22	Variation	Week 23	Week 22	Variation
1	Jiangsu	373,000	313,000	60,000	62.18%	52.18%	10.00%
2	Guangdong	214,200	224,200	-10,000	53.03%	55.51%	-2.48%
3	Guangxi	148,600	159,600	-11,000	47.70%	51.24%	-3.53%
4	Tianjin	144,200	73,000	71,200	95.81%	48.50%	47.31%
5	Shandong	140,800	258,200	-117,400	23.51%	43.12%	-19.60%
6	Fujian	126,000	116,000	10,000	74.38%	68.48%	5.90%
7	Hebei	112,400	129,400	-17,000	61.76%	71.10%	-9.34%
8	Liaoning	97,500	74,700	22,800	43.32%	33.19%	10.13%
9	Zhejiang	52,500	35,000	17,500	45.18%	30.12%	15.06%
10	Henan	49,550	55,200	-5,650	41.15%	45.85%	-4.69%
11	Hubei	49,000	42,000	7,000	100.00%	85.71%	14.29%
12	Jilin	27,400	4,400	23,000	35.58%	5.71%	29.87%
13	Shaanxi	23,600	23,600	0	76.62%	76.62%	0.00%
14	Sichuan	23,400	38,400	-15,000	55.71%	91.43%	-35.71%
15	Hunan	15,800	19,600	-3,800	80.61%	100.00%	-19.39%
16	Anhui	15,400	15,400	0	95.65%	95.65%	0.00%
17	Heilongjiang	12,600	19,600	-7,000	7.50%	11.67%	-4.17%
18	Chongqing	7,200	16,800	-9,600	34.29%	80.00%	-45.71%
19	Jiangxi	7,000	7,000	0	58.82%	58.82%	0.00%
20	Inner Mongolia	7,000	1,000	6,000	58.82%	8.40%	50.42%
21	Xinjiang	4,200	3,000	1,200	75.00%	53.57%	21.43%
22	Shanghai	0	0	0	0.00%	0.00%	0.00%
23	Shanxi	0	0	0	0.00%	0.00%	0.00%
	China Total	1,651,350	1,629,100	-22,250	47.80%	47.16%	0.64%

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

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