China’s Soybean Crush Weekly (Week 35, 2019)
This week (Aug. 24th-30th), soybean crush has continued climbing to a new high this year as mills are satisfied about improved soybean meal delivery. Thereby, the crush totals 1,900,400 tonnes (meal 1,501,316 tonnes and oil 361,076 tonnes), an increase of 195,600 tonnes by 11.47% from 1,704,800 tonnes last week. Meanwhile, the operation rate (capacity utilization) is 53.19%, up 5.47 percentage points from 47.72% last week. As several mills in South China may suspend production for swelling soybean meal inventory, soybean crush is predicted to drop slightly to around 1.85 mln tonnes next week and to around 1.76 mln tonnes the following week.
As of this week, soybean crush nationwide totals 77,440,515 tonnes in the crushing year of 2018/19 (from October, 2018), down 4,400,385 tonnes by 5.37% from 81,840,900 tonnes of the same period last year. In 2019 (from Jan. 1st, 2019), national soybean crush amounts to 54,289,115 tonnes, down 3,151,065 tonnes by 5.48% from 57,440,180 tonnes of the corresponding period in 2018.
Fig.: Soybean Weekly Crush in China (2015-2019)
Details for weekly crush are shown as follows:
