China’s Soybean Crush Weekly (Week 49, 2018)
This week (Dec. 1st-7th), the market has been muted as most downstream companies tend to wait-and-see amid continuous declines of meal futures on the Dalian Commodity Exchange so that an increasing amount of oil mills have had to restrict or stop their production under slow consumption of soybean meal. Under continuous drop of operation rate, soybean crush volume totals 1,669,000 tonnes (meal 1,318,510 tonnes and oil 317,110 tonnes) this week, down 21,000 tonnes by 1.24% from 1,690,000 tonnes last week. The operation rate (capability utilization) is 47.65%, down by 0.6% from 48.25% last week. The crush volume will drop to around 1.62 Mln tonnes due to continuous production restriction or suspension next week (week 50) , but it will rise back to around 1.70 Mln tonnes in week 51.
So far, domestic soybean crush volume in 2018/2019 (dating from Oct 1st, 2018) totals 17,307,585 tonnes, down 651,213 tonnes by 3.62% from 17,958,798 tonnes of the same period last year. In 2018 (dating from Jan 1st, 2018), domestic soybean crush volume amounts to 82,746,450 tonnes, down 1,015,649 tonnes by 1.21% from 82,746,450 tonnes of the same period in 2017.
Fig.: Soybean Weekly Crush in China (2014-2018)
Details for weekly crush are shown as follows:
