According to Cofeed, this week (as of Mar. 29th), details of soybean oil stock and amounts in outstanding contracts are as follows:

　　　

　　Unit: 0’000 tonne

　　

　　

　　Merely, Operation rate for soybean crush continues to rise this week, yet lower than expected due to machine maintenance near the end of the month. According to Cofeed, soybean crush this week (Mar. 23rd-29th) totals 1,668,450 tonnes (meal 1,318,075 tonnes and oil 317,005 tonnes), an increment of 58,700 tonnes by 3.64% from 1,609,750 tonnes last week. Meanwhile, operation rate (capacity utilization) has gone up by 1.66 percentage points to 47.07% from 45.41% last week. As most oil mills will maintain their current operation or even power on all equipment next week, soybean crush will increase further to 1.67 Mln tonnes in week 14 and to 1.80 Mln tonnes the following week. Moreover, successive losses of futures have dampened?buyers’ enthusiasm?in purchasing, which finally results in weak end demand and slower consumption. Therefore, soybean oil inventory is predicted to slow down its declines later. 

　　

　　

　　Fig.: China’s Soybean Oil Stocks in Recent Years