Soybean Oil Stocks and Amounts in Outstanding Contracts in China (Week 47, 2018)
According to Cofeed, this week (as of Nov. 23rd), details of soybean oil stock and amounts in outstanding contracts are as follows:
Unit: 0’000 tonne
This week (Nov. 17th-23rd), operation rate for soybean has dropped for swollen soybean meal inventories under slow shipment and soybean shortage in some refineries. The crush volume of soybean in oil mills nationwide totals 1,694,800 tonnes (meal 1,338,892 tonnes and oil 322,012 tonnes), down 21,200 tonnes by 1.23% from 1,716,000 tonnes last week. The operation rate (capability utilization) is 48.38%, down by 0.61% from 48.99% last week. The crush volume will maintain at 1.70 Mln tonnes next week (week 48), but will rise back to 1.73 Mln tonnes in week 49.
Soybean stock has continued to decreased this week for a smaller output under reduced operation rate. As of November 23rd, the inventory of soybean oil totals 1,802,000 tonnes, down 12,400 tonnes by 0.68% from 1,814,400 tonnes last week, down 53,000 tonnes by 2.86% from 1,855,000 tonnes month-on-month, yet up 157,000 tonnes by 9.54% from 1,645,000 tonnes year-on-year. And the mean of the same period in recent five years is 1,345,200 tonnes.
Fig.: China’s Soybean Oil Stocks in Recent Years
