I.Soybean crush in August in China

    According to our final detailed investigation and verification, soybean crush of oil mills in August totals 7,571,450 tonnes (meal 5,981,445 tonnes and oil 1,438,575 tonnes), up 863,150 tonnes by 12.86% from 6,708,300 tonnes in July, yet down by 8.26% from 8,253,652 tonnes of the same period last year.

    So far, soybean crush nationwide totals 77,524,950 tonnes in the crushing year of 2018/19 (from Oct. 1st, 2018), down 4,368,022 tonnes by 5.33% from 81,892,972 tonnes in 2017/18. In calendar 2019 (from Jan. 1st, 2019), national soybean crush totals 54,467,450 tonnes, down 3,100,002 tonnes by 5.38% from 57,567,452 tonnes in 2018.

    II.Soybean imports in China

    China’s Customs: Soybean Import in China by Month (0’000 tonnes)

    According to Cofeed, the import is predicted to be 123 cargoes with 8.022 mln tonnes for September, 8.0 mln tonnes for October, 7.90 mln tonnes for November and 6.80 mln tonnes for December. Statistics will be updated every week on account of variable and unstable buying.  

    III.Monthly carryover inventory at ports in China

    Due to a significant rise in crush, soybean inventory has slightly decreased in August. By the end of August, imported soybean inventory totals 6,423,000 tonnes, down 151,500 tonnes by 2.35% from 6,574,500 tonnes in July and down by 33.66% from 8,585,000 tonnes of the corresponding period last year. The inventory is predicted to fall further on smaller arrivals at ports later.

    IV.Soybean Crush Margins in China