Soybean Oil Stocks and Amounts in Outstanding Contracts in China (Week 25, 2019)
According to Cofeed, on the week as of June 21st, details of soybean oil inventories and outstanding contracts are as follows:
Unit: 0’000 tonne
This week (June 15th-21st), as mills have picked up their utilization rate, soybean crush reaches a total of 1,792,400 tonnes (meal 1,415,996 tonnes and oil 340,556 tonnes), an increase of 66,220 tonnes by 3.83% from 1,726,200 tonnes last week. Meanwhile, utilization rate (capacity utilization) has gone up by 1.85 percentage points to 50.17% from 48.32% last week. The crush is predicted to fall to around 1.75 mln tonnes for machine maintenance and swollen inventories of soybean oil and meal next week, but will return to around 1.82 mln tonnes the following week.
And soybean oil inventory has thus piled higher this week. On the week as of June 21st, the inventory has totaled 1,483,400 tonnes, up 23,450 tonnes by 1.61% from 1,459,950 tonnes last week, up 27,600 tonnes by 1.9% from 1,455,800 tonnes month-on-month, and up 64,600 tonnes by 4.55% from 1,418,800 tonnes year-on-year. And the five-year average at the same period is 1,176,300 tonnes.
Fig.: China’s Soybean Oil Stocks in Recent Years
