According to Cofeed, the latest statistics of soybean oil stocks and amounts in outstanding contracts in Chinese major areas in week 24 (till June 15th, hereinafter referred to this week) are shown as follows:

 

Unit: 0’000 tonnes

Area/Enterprise	Soybean Oil Stocks			Soybean Oil in Outstanding Contracts
	Week 24	Week 23	Variation	Week 24	Week 23	Variation
Northeast China	5.15	4.5	0.65	7.25	7.6	-0.35
North China	25.12	23.48	1.64	25.16	24.66	0.5
Shandong	9.87	10.05	-0.18	11.47	10.98	0.49
East China	47.9	46.67	1.23	36.7	36.62	0.08
Guangdong	13.14	13.71	-0.57	23.3	23.46	-0.16
Guangxi	11.875	11.975	-0.1	14.7	14.75	-0.05
Fujian	9.1	8.1	1	4.7	3.1	1.6
Henan	3.29	1.78	1.51	0.91	1.29	-0.38
Sichuan	3.6	3.48	0.12	3.06	2.86	0.2
Others	11.83	11.72	0.11	1.96	1.59	0.37
Total	140.875	135.465	5.41	129.21	126.91	2.3

 

    National soybean crush this week totals 1,719,600 tonnes (1,358,484 tonnes of soybean meal, 326,724 tonnes of soybean oil) owing to climbing operation rate nationwide, up 68,250 tonnes by 4.13% vis-a-vis 1,651,350 tonnes last week. Meantime, soybean processing capacity utilization rises to 49.78%, 1.98 percentage points higher than 47.80% last week. Total soybean crush in week 25 next week, according to Cofeed, will probably stay at 1.80 Mln tonnes and 1.89 Mln tonnes in week 26 based on improved operation rate.

  

    Based on current soybean processing capacity, June soybean crush nationwide is forecast to be 7.6 Mln tonnes, higher than 7.05 Mln tonnes last month and a tad higher than 7.56 Mln tonnes year on year. Stockpiles of soybean oil in a near future will further increase assured by lifted soybean processing rate.

 

                            Figure: Comparison of domestic soybean oil stocks in recent years