Soybean and Soybean Meal Stocks and Amounts in Contracts Weekly (Week 21, 2019)
Soybean crush is lower than forecast as some mills have reduced their utilization rate for swollen inventories of soybean meal or oil. This week (May 18-24), soybean crush reaches a total of 1,857,700 tonnes (meal 1,467,583 tonnes and oil 352,963 tonnes), a reduction of 77,900 tonnes by 4.02% from 1,935,600 tonnes last week. Meanwhile, utilization rate (capacity utilization) has decreased by 2.2 percentage points to 52.30% from 54.50% last week. The crush will fall further to around 1.79 mln tonnes next week, but it will return to 1.85 mln tonnes in the following week.
As of this week, soybean crush nationwide totals 54,302,715 tonnes, down 2,817,383 tonnes by 4.93% from 57,120,098 tonnes of the same period last year. In 2019 (as from Jan. 1st, 2019), national soybean crush amounts to?31,151,315 tonnes, down 1,568,063 tonnes by 4.79% from 32,719,378 tonnes of the corresponding period in 2018.
Fig.: Soybean Weekly Crush in China (2015-2019)
Details for weekly crush are shown as follows:
