Soybean Oil Stocks and Amounts in Outstanding Contracts in China (Week 14, 2019)
According to Cofeed, on the week as of April 5th, details of soybean oil inventories and outstanding contracts are as follows:
Unit: 0’000 tonne
Operation rate for soybean crush decreases for equipment maintenance and soybean shortages. According to Cofeed, soybean crush this week (Mar. 30th-Apr. 5th) totals 1,603,850 tonnes (meal 1,267,041 tonnes and oil 304,731 tonnes), a reduction of 64,600 tonnes by 3.87% from 1,668,450 tonnes last week. Meanwhile, operation rate (capacity utilization) has come down by 1.82 percentage points to 45.25% from 47.07% last week. Soybean crush is predicted to go up 1.70 Mln tonnes in week 15 and to 1.74 Mln tonnes the following week.
Soybean oil inventory posts another drop amid declining soybean crush this week. As of April 5th, the inventory has totaled 1,336,800 tonnes, down 8,000 tonnes by 0.59% from 1,344,800 tonnes last week, down 8,400 tonnes by 0.62% from 1,345,200 tonnes month-on-month, and down 34,200 tonnes by 2.49% from 1,371,000 tonnes year-on-year. And the five-year average at the same period is 1,031,400 tonnes.
Fig.: China’s Soybean Oil Stocks in Recent Years
