China’s Soybean Crush Weekly (Week 20, 2019)
Domestic mills have picked up utilization rate sharply as they are trying to power on all their production lines for handsome crush margins in South American crops. This week (May 11th-17th), soybean crush totals 1,935,600 tonnes (meal 1,529,124 tonnes and oil 367,764 tonnes), an increment of 264,400 tonnes by 15.82% from 1,671,200 tonnes last week. Meanwhile, utilization rate (capacity utilization) has increased by 7.45 percentage points to 54.50% from 47.05% last week. The utilization rate will remain high in the coming two weeks, so soybean crush may increase to 1.94 mln tonnes next week and to 1.99 mln tonnes the following week.
As of this week, soybean crush nationwide totals 52,445,015 tonnes, down 3,024,633 tonnes by 5.45% from 55,469,648 tonnes of the same period last year. In 2019 (as from Jan. 1st, 2019), national soybean crush amounts to?29,293,615 tonnes, down 1,775,313 tonnes by 5.71% from 31,068,928 tonnes of the corresponding period in 2018.
Fig.: Soybean Weekly Crush in China (2015-2019)
Details for weekly crush are shown as follows:
