According to Cofeed, on the week as of May 31st, details of soybean oil inventories and outstanding contracts are as follows:

　　

　　Unit: 0’000 tonne

　　

 

　　This week (May 25th-31st), amid a further drop in utilization rate for soybean shortage and monthly maintenance, soybean crush reaches a total of 1,766,200 tonnes (meal 1,395,298 tonnes and oil 335,578 tonnes), a reduction of 91,500 tonnes by 4.92% from 1,857,700 tonnes last week. Meanwhile, utilization rate (capacity utilization) has decreased by 2.57 percentage points to 49.73% from 52.30% last week. The crush will return to a level of 1.85 mln tonnes next week and to 1.83 mln tonnes the following week. 

 

　　 And soybean oil inventory has thus further fallen upon declining utilization rate. On the week as of May 31st, the inventory has totaled 1,407,500 tonnes, down 37,900 tonnes by 2.62% from 1,445,400 tonnes last week, yet up 17,500 tonnes by 1.26% from 1,390,000 tonnes month-on-month, and up 79,000 tonnes by 5.95% from 1,328,500 tonnes year-on-year. And the five-year average at the same period is 1,084,400 tonnes. 

　　

　　

　　Fig.: China’s Soybean Oil Stocks in Recent Years