China’s Soybean Crush Weekly (Week 46, 2018)
This week (Nov. 10th-16th), operation rate for soybean has picked up fractionally, but the pickup falls flat amid swollen soybean meal inventories in some refineries under slow shipment. The crush volume of soybean in oil mills nationwide reaches a total of 1,716,000 tonnes (meal 1,355,640 tonnes and oil 326,040 tonnes), up 18,600 tonnes by 1.09% from 1,697,400 tonnes last week. The operation rate (capability utilization) is 48.99%, up by 0.58% from 48.46% last week. Due to the ongoing swollen inventory of soybean meal and soybean shortage, the crush volume will go down to 1.67 Mln tonnes next week (week 47), but will rise back to 1.75 Mln tonnes in week 48.
So far, domestic soybean crush volume in 2018/2019 (dating from Oct 1st, 2018) totals 12,253,785 tonnes, up 203,137 tonnes by 1.68% from 12,050,648 tonnes a year earlier. In 2018 (dating from Jan 1st, 2018), domestic soybean crush volume amounts to 77,692,650 tonnes, down 161,299 tonnes by 0.2% from 77,853,949 tonnes of the same period in 2017.
Fig.: Soybean Weekly Crush in China (2014-2018)
Details for weekly crush are shown as follows:
