Today is 05/25/2020

China’s Soybean Crush Weekly (Week 34, 2019)

This week (Aug. 17th-23rd), the operation rate has risen as expected since mills are active in crushing due to somewhat eased soybean meal inventory and handsome crush margins. Thereby, soybean crush totals 1,704,800 tonnes (meal 1,346,792 tonnes and oil 323,912 tonnes), an increase of 126,400 tonnes by 8% from 1,578,400 tonnes last week. Meanwhile, the operation rate (capacity utilization) is 47.72%%, up 3.54 percentage points from 44.18% last week. Soybean crush is predicted to continue its growth to around 1.82 mln tonnes next week and to around 1.85 mln tonnes the following week. 

Soybean crush nationwide is estimated at 7.19 mln tonnes in August at current utilization rate, above the 6.70 mln tonnes in July yet below 8.25 mln tonnes of the corresponding period last year. 

As of this week, soybean crush nationwide totals 75,540,115 tonnes in the crushing year of 2018/19 (from October, 2018), down 4,442,375 tonnes by 5.55% from 79,982,490 tonnes of the same period last year. In 2019 (from Jan. 1st, 2019), national soybean crush amounts to 52,388,715 tonnes, down 3,193,055 tonnes by 5.74% from 55,581,770 tonnes of the corresponding period in 2018.

Fig.: Soybean Weekly Crush in China (2015-2019)

Details for weekly crush are shown as follows: