China’s Soybean Crush Weekly (Week 26, 2018)

2018-07-02 www.cofeed.com

National soybean crush this week (June 23rd- 29th) come into at 1,910,850 tonnes (1,509,571 tonnes of soybean meal, 363,061 tonnes of soybean oil) owing to further improved operation rate nationwide, up 118,850 tonnes by 6.63% vis-a-vis 1,792,000 tonnes last week. Meantime, soybean processing rate (capacity utilization) climbs to 55.31%, 3.44 percentage points higher than 51.87% last week. Total soybean crush in week 27 next week, according to Cofeed, will probably be around 1.95 Mln tonnes and 1.98Mln tonnes in week 28 based on further lifted operation rate.

Based on current soybean processing capacity, June soybean crush nationwide is forecast to be 7.5 Mln tonnes, higher than 7.05 Mln tonnes last month and only a little different from 7.56 Mln tonnes year on year.

Soybean crush in year 2017/2018 (as from 1 October 2017) now totals 65,772,970 tonnes, up 1,491,993 tonnes by 2.32% as compared to 64,280,977 tonnes attained in year 2016/17. National soybean crush in calendar year 2018 (as from 1 January 2018) has amounted to 41,437,350 tonnes, still 0.34% or 142,829 tonnes lower than 41,580,179 tonnes year on year.

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

Details for weekly crush are shown as follows:

No	Area	Soybean Crush (mT)			Operation Rate (Capacity Utilization)
		Week 26	Week 25	Variation	Week 26	Week 25	Variation
1	Jiangsu	409,000	390,500	18,500	68.18%	65.09%	3.08%
2	Shandong	334,300	322,500	11,800	55.82%	53.85%	1.97%
3	Guangdong	214,200	182,700	31,500	53.03%	45.23%	7.80%
4	Guangxi	169,600	180,600	-11,000	54.45%	57.98%	-3.53%
5	Hebei	129,400	103,800	25,600	71.10%	57.03%	14.07%
6	Fujian	126,000	105,000	21,000	74.38%	61.98%	12.40%
7	Liaoning	120,900	92,200	28,700	53.72%	40.97%	12.75%
8	Tianjin	108,100	110,700	-2,600	71.83%	73.55%	-1.73%
9	Henan	68,150	73,400	-5,250	56.60%	60.96%	-4.36%
10	Hubei	47,000	48,000	-1,000	95.92%	97.96%	-2.04%
11	Zhejiang	46,900	38,500	8,400	40.36%	33.13%	7.23%
12	Sichuan	31,500	24,900	6,600	75.00%	59.29%	15.71%
13	Shaanxi	30,800	22,400	8,400	100.00%	72.73%	27.27%
14	Shanghai	17,500	7,500	10,000	67.57%	28.96%	38.61%
15	Chongqing	16,800	16,800	0	80.00%	80.00%	0.00%
16	Jilin	12,000	36,800	-24,800	15.58%	47.79%	-32.21%
17	Anhui	8,400	8,400	0	52.17%	52.17%	0.00%
18	Jiangxi	7,000	7,000	0	58.82%	58.82%	0.00%
19	Heilongjiang	5,600	12,600	-7,000	3.33%	7.50%	-4.17%
20	Xinjiang	4,200	4,200	0	75.00%	75.00%	0.00%
21	Inner Mongolia	3,500	3,500	0	29.41%	29.41%	0.00%
22	Hunan	0	0	0	0.00%	0.00%	0.00%
23	Shanxi	0	0	0	0.00%	0.00%	0.00%
	China Total	1,910,850	1,792,000	-118,850	55.31%	51.87%	3.44%

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