According to Cofeed, on the week as of October 18th, details of soybean stocks and  soybean meal stocks and outstanding contracts in coastal regions of China are as follows:

Soybean: Imported soybean stocks fractionally decrease this week, as soybean crush returns to a normal level of 1.72 mln tonnes. In the week as of October 18th, imported soybean stocks total 3,922,700 tonnes in main domestic coastal oil mills, down 165,200 tonnes by 4.04% from  4,087,900 tonnes last week and down by 44.58% from 7,078,400 tonnes of the same period last year. The stocks will probably continue to reduce a soybean crush will increase to 1.75 mln tonnes and 1.85 mln tonnes in the next two weeks, respectively. 

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

Soybean meal: The inventory has risen slightly this week as soybean crush returns to a normal level of 1.72 mln tonnes. In the week as of October 18th, the inventory totals 573,800 tonnes, up 48,700 tonnes by 9.27% from 525,100 tonnes last week yet down by 25.49% from 770,200 tonnes of the corresponding period last year. The inventory is predicted to continue the growth next week as mills will gradually recover the crush to a normal level. 

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

Outstanding contracts: The amount of soybean meal in outstanding contracts reduces this week. In the week as of October 18th, outstanding contracts in domestic main areas hold 3,390,700 tonnes unfinished, down 487,900 tonnes by 12.58% from 3,878,600 tonnes last week and down by 34.67% from 5,190,800 tonnes of the same period last year.

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