According to Cofeed, on the week as of October 11th, details of soybean stocks and  soybean meal stocks and outstanding contracts in coastal regions of China are as follows:

Soybean: Imported soybean stocks fractionally increase this week, as some mills are not back to production after the holiday and soybean crush remains at a low level of around 1.30 mln tonnes. In the week as of October 11th, imported soybean stocks total 4,087,900 tonnes in main domestic coastal oil mills, up 277,100 tonnes by 7.27% from 3,810,800 tonnes last week and down by 41.87% from 7,032,900 tonnes of the same period last year. The stocks will probably remain little changed because mills will resume their crush back to around 1.72 mln tonnes next week and to around 1.85 mln tonnes that following week. 

Fig. 1: China’s coastal soybean carry-over stocks in recent years

Soybean meal: The inventory has continued to decline this week with low soybean crush in oil mills. In the week as of October 11th, the inventory totals 525,100 tonnes, down 59,600 tonnes by 10.19% from 584,700 tonnes last week and down by41.20% from 893,100 tonnes of the corresponding period last year. The inventory is predicted to slightly increase because mills will resume soybean crush to a normal level in the coming two weeks. 

Fig. 2: China’s coastal soybean meal carry-over stocks in recent years

Outstanding contracts: The amount of soybean meal in outstanding contracts continues to increase this week. In the week as of October 11th, outstanding contracts in domestic main areas hold 3,878,600 tonnes unfinished, up 196,800 tonnes by 5.35% from 3,681,800 tonnes last week yet down by 31.77% from 5,684,600 tonnes of the same period last year.

Fig. 3: China’s coastal soybean meal in outstanding contracts in recent years