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China’s Soybean Crush Monthly (Sept, 2019)

2019-10-09 www.cofeed.com

Soybean crush in September in China

 

According to our final detailed investigation and verification, soybean crush of oil mills in September totals 7,559,650 tonnes (meal 5,972,123 tonnes and oil 1,436,333 tonnes), down 11,800 tonnes by 0.16% from 7,571,450 tonnes in August, and down by 5.23% from 7,976,900 tonnes of the same period last year.

 

So far, soybean crush nationwide totals 85,084,600 tonnes in the crushing year of 2018/19 (from Oct. 1st, 2018), down 4,785,272 tonnes by 5.32% from 89,869,872 tonnes in 2017/18. In calendar 2019 (from Jan. 1st, 2019), national soybean crush totals 62,027,100 tonnes, down 3,517,252 tonnes by 5.36% from 65,544,352 tonnes in 2018.

 

Soybean Crush in September in China by Region (tonne)

Ranking

Region

1st-6th

7-13th

14-20th

21st-27th

28-30th

Total

1

Jiangsu

87000

313500

320000

303500

349500

52000

2

Shandong

83400

325300

293400

278800

336900

55350

3

Guangdong

44200

207100

168000

169700

242500

29700

4

Guangxi

51600

165000

146000

195000

195500

26500

5

Hebei

36000

134000

126000

133000

137000

18000

6

Tianjin

25000

117500

117500

134500

147000

21000

7

Liaoning

23600

124100

113600

114600

140600

22600

8

Fujian

19800

75100

74000

96500

77000

11000

9

Hubei

8800

42700

45700

33700

27600

3000

10

Zhejiang

8400

33500

33500

47000

20500

2500

11

Sichuan

13000

17000

7700

28700

55100

8400

12

Henan

9600

13200

18600

35200

39200

5600

13

Shaanxi

6400

8000

16400

28400

30800

4400

14

Heilongjiang

7600

24600

19600

19600

19600

2800

15

Jilin

0

20000

28000

28000

4000

0

16

Hunan

4600

10600

7000

19600

19600

2800

17

Chongqing

0

7500

17500

17500

17500

2500

18

Anhui

4400

8400

9400

13000

12500

2200

19

Jiangxi

3000

10500

10500

10500

10500

1500

20

Shanghai

0

0

5000

17500

17500

2500

21

Neimenggu

0

0

1000

0

0

0

22

Xinjiang

0

0

0

0

0

0

23

Shanxi

0

0

0

0

0

0

 

Total

436400

1657600

1578400

1724300

1900400

274350

Remarks: Above is the final data after verification.

 

Soybean imports in China

 

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

 

 

M/Y

2018

2019

Jan

848.07

737.70

Feb

542.42

446.00

Mar

566.20

492.00

Apr

690.00

764.00

May

969.00

736.00

Jun

870.00

651.32

Jul

801.00

864.03

Aug

915.00

948.07

Sep

801.00

802.20

Oct

692.00

750.00

Nov

538.39

740.00

Dec

572.06

710.00

Total

8805.14

8641.32

 

According to Cofeed, the import is predicted to be 123 cargoes with 8.022 mln tonnes for September, 7.50 mln tonnes for October, 7.40 mln tonnes for November and 7.10 mln tonnes for December. Statistics will be updated every week on account of variable and unstable buying.  

 

 

 

Monthly carryover inventory at ports in China

 

Although soybean crush is little changed this month, the imports have decreased, so soybean inventory continues to drop in September. By the end of September, imported soybean inventory totals 5,226,000 tonnes, down 1,197,000 tonnes by 18.63% from 6,423,000 tonnes in August and down by 39.89% from 8,695,000 tonnes of the corresponding period last year. The inventory is predicted to fall further on small amount arriving at ports later.

 

Soybean Crush Margins in China (yuan/tonne)

Date

U.S. soybean

Bra. soybean

Arg. soybean

Distributed

Domestic

Sept. 2

-620

118

100

-159

-55

Sept. 4

-602

134

115

-152

-47

Sept. 5

-598

100

83

-174

-76

Sept. 6

-592

115

93

-215

-118

Sept. 9

-567

138

113

-217

-130

Sept. 10

-565

121

113

-236

-135

Sept. 11

-641

61

34

-256

-127

Sept. 12

-545

70

50

-263

-138

Sept. 16

-747

69

-10

-268

-130

Sept. 17

-757

100

21

-229

-118

Sept. 18

-744

130

72

-227

-124

Sept. 19

-729

118

69

-232

-121

Sept. 20

-699

103

62

-259

-134

Sept. 23

-643

154

112

-230

-127

Sept. 24

-692

134

98

-231

-137

Sept. 25

-729

140

117

-221

-122

Sept. 26

-716

164

128

-219

-138

Sept. 27

-770

133

87

-264

-180

Sept. 30

-697

180

134

-236

-159