According to Cofeed, on the week as of December 6th, details of soybean stocks and  soybean meal stocks and outstanding contracts in coastal regions of China are as follows:

Soybean: Imported soybean stocks continue to increase this week on lower operation rates for crush. In the week as of December 6th, imported soybean stocks in mills in domestic coastal regions total 3,320,600 tonnes in main domestic coastal oil mills, up 332,330 tonnes by 11.12% from 2,988,300 tonnes last week yet down by 41.85% from 5,710,700 tonnes of the same period last year. With huge imports arriving at ports in December, the stocks will probably post modest rises later.

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

Soybean meal: In the week as of December 6th, soybean meal trading totals 711,120 tonnes, down 22.29% from 915,514 tonnes last week. Therefore, soybean meal stocks pile up further higher this week on lower trading volume and slow shipments. In the week as of December 6th, the inventory in mills in domestic coastal regions totals 422,900 tonnes, up 9,200 tonnes by 2.22% from 413,700 tonnes last week yet down by 54.88% from 937,400 tonnes of the corresponding period last year. As soybean crush is expected to go up to 1.71 mln tonnes and 1.80 mln tonnes in the coming two weeks, soybean meal stocks may continue to increase and to see an easing supply pattern.

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

Outstanding contracts: The amount of soybean meal in outstanding contracts increase in the week spanning from November to December. In the week as of December 6th, outstanding contracts in mills in domestic coastal regions hold 3,830,100 tonnes unfinished, up 935,400 tonnes by 32.31% from 2,894,700 tonnes last week yet down by 0.96% from 3,867,400 tonnes of the same period last year.

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