Soybean Oil Stocks and Amounts in Outstanding Contracts in China (Week 16, 2019)
According to Cofeed, on the week as of April 19th, details of soybean oil inventories and outstanding contracts are as follows:
Unit: 0’000 tonne
With a further pickup in utilization rate, soybean crush this week (Apr. 13th-19th) totals 1,822,350 tonnes (meal 1,439,656 tonnes and oil 346,246 tonnes), an increment of 133,100 tonnes by 7.87% from 1,689,250 tonnes last week. Meanwhile, utilization rate (capacity utilization) has climbed higher by 3.76 percentage points to 51.41% from 47.65% last week. Soybean crush is predicted to fall to 1.72 Mln tonnes next week for machine maintenance and supply disruptions but will rise to 1.82 Mln tonnes the following week .
Soybean oil stockpiles keep rising amid growing soybean crush this week. As of April 19th, the inventory has totaled 1,381,570 tonnes, up 26,070 tonnes by 1.92% from 1,355,500 tonnes last week, down 5,030 tonnes by 0.36% from 1,386,600 tonnes month-on-month, yet up 44,070 tonnes by 3.29% from 1,337,500 tonnes year-on-year. And the five-year average at the same period is 1,015,100 tonnes.
Fig.: China’s Soybean Oil Stocks in Recent Years
