As the utilization rate has dropped further for swelling soybean meal inventories and machine maintenance, soybean crush totals 1,505,600 tonnes (meal 1,189,424 tonnes and oil 286,064 tonnes), a reduction of 18,000 tonnes by 1.18% from 1,523,600 tonnes last week. Meanwhile, utilization rate (capacity utilization) is 42.14%, down by 1.53 percentage points from 43.67% last week. The crush is predicted to increase to around 1.64 mln tonnes next week and to 1.82 mln tonnes the following week as the utilization rate will grow with eased soybean meal inventory under quicker delivery.
Soybean crush nationwide is estimated at 7.02 mln tonnes in July at current utilization rate, below the 7.41 mln tonnes in June and 7.55 mln tonnes a year earlier.
As of this week, soybean crush nationwide totals 67,539,115 tonnes, down 3,427,083 tonnes by 4.83% from 70,966,198 tonnes of the same period last year. In 2019 (as from Jan. 1st, 2019), national soybean crush amounts to?44,387,715 tonnes, down 2,177,76 tonnes by 4.68% from 46,565,478 tonnes of the corresponding period in 2018.
Fig.: Soybean Weekly Crush in China (2015-2019)
Details for weekly crush are shown as follows:
