Soybean Oil Stocks and Amounts in Outstanding Contracts in China (Week 17, 2019)
According to Cofeed, on the week as of April 26th, details of soybean oil inventories and outstanding contracts are as follows:
Unit: 0’000 tonne
Soybean oil inventory has slowed down its growth this week as soybean crush has declined for machine maintenance and supply disruptions. Specifically, soybean crush this week (Apr. 20th-26th) totals 1,660,300 tonnes (meal 1,311,637 tonnes and oil 315,457 tonnes), a reduction of 162,050 tonnes by 8.8% from 1,822,350 tonnes last week. Meanwhile, utilization rate (capacity utilization) has declined by 4.57 percentage points to 46.84% from 51.41% last week. Soybean crush is predicted to be around 1.69 Mln tonnes next week for and around 1.79 Mln tonnes the following week .
In this case, soybean oil inventory, as of April 26th, has totaled 1,382,100 tonnes, up 530 tonnes by 0.04% from 1,381,570 tonnes last week, up 17,800 tonnes by 1.3% from 1,364,300 tonnes month-on-month, and up 67,100 tonnes by 5.1% from 1,315,000 tonnes year-on-year. And the five-year average at the same period is 1,024,800 tonnes.
Fig.: China’s Soybean Oil Stocks in Recent Years
