This week (June 22nd-28th), as mills have lowered their utilization rate, soybean crush reaches a total of 1,730,800 tonnes (meal 1,367,332 tonnes and oil 328,852 tonnes), a reduction of 61,600 tonnes by 3.42% from 1,792,400 tonnes last week. Meanwhile, utilization rate (capacity utilization) is 48.44%, down by 1.85 percentage points from 50.17% last week. The declines is contributed to the steam at Tianjin Port which has resulted in downtime in several mills, and to the swelling inventories of soybean meal or oil in some other mills. The crush is predicted to fall to around 1.52 mln tonnes as mills are to reduce the utilization rate sharply next week, but will return to around 1.68 mln tonnes the following week.
Soybean crush nationwide is estimated at 7.44 mln tonnes in June at current utilization rate, below the 7.81 mln tonnes last month, but above 7.05 mln tonnes a year earlier.
As of this week, soybean crush nationwide totals 63,097,115 tonnes, down 2,725,883 tonnes by 4.14% from 65,822,998 tonnes of the same period last year. In 2019 (as from Jan. 1st, 2019), national soybean crush amounts to?39,945,715 tonnes, down 1,476,563 tonnes by 3.56% from 41,422,278 tonnes of the corresponding period in 2018.
Fig.: Soybean Weekly Crush in China (2015-2019)
Details for weekly crush are shown as follows:
