According to Cofeed, on the week as of November 29th, details of soybean stocks and  soybean meal stocks and outstanding contracts in coastal regions of China are as follows:

Soybean: Imported soybean increase slightly in stocks this week. In the week as of November 29th, imported soybean stocks in mills in domestic coastal regions total 2,988,300 tonnes in main domestic coastal oil mills, up 18,500 tonnes by 0.32% from 2,969,800 tonnes last week yet down by 51.00% from 6,099,000 tonnes of the same period last year. Soybean crush is predicted to drop slightly to 1.72 mln tonnes as some mills will halt production for shortages, But soybean stocks will likely rise a little bit due to large imports arrivals in December. 

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

Soybean meal: Soybean meal stocks pile up further higher this week due to rising soybean crush. In the week as of November 29th, the inventory in mills in domestic coastal regions totals 413,700 tonnes, up 42,400 tonnes by 11.42% from 371,300 tonnes last week yet down by 56.12% from 943,000 tonnes of the corresponding period last year. The inventory is predicted to be little changed next week as soybean crush will reduced fractionally, and its tight supply pattern may not ease until late December. 

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 reduce this week. In the week as of November 29th, outstanding contracts in mills in domestic coastal regions hold 2,894,700 tonnes unfinished, down 76,700 tonnes by 2.58% from 2,971,400 tonnes last week and down by 23.51% from 3,784,900 tonnes of the same period last year.

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