Soybean Oil Stocks and Amounts in Outstanding Contracts in China (Week 15, 2019)
According to Cofeed, on the week as of April 12th, details of soybean oil inventories and outstanding contracts are as follows:
Unit: 0’000 tonne
As operation rate ramps up, soybean crush this week (Apr. 6th-12th) totals 1,689,250 tonnes (meal 1,334,507 tonnes and oil 320,957 tonnes), an increment of 85,400 tonnes by 5.32% from 1,603,850 tonnes last week. Meanwhile, operation rate (capacity utilization) has climbed higher by 2.4 percentage points to 47.65% from 45.25% last week. Soybean crush is predicted to increase to 1.78 Mln tonnes next week and fall to 1.72 Mln tonnes for machine maintenance and soybean shortages the following week .
Soybean oil stockpiles reverse to grow amid rising soybean crush this week. As of April 12th, the inventory has totaled 1,355,500 tonnes, up 18,700 tonnes by 1.4% from 1,336,800 tonnes last week, yet down 9,600 tonnes by 0.7% from 1,365,100 tonnes month-on-month, and down 23,000 tonnes by 1.67% from 1,378,500 tonnes year-on-year. And the five-year average at the same period is 1,013,900 tonnes.
Fig.: China’s Soybean Oil Stocks in Recent Years
