According to Cofeed, on the week as of December 13th, 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 slightly this week. In the week as of December 13th, imported soybean stocks in mills in domestic coastal regions total 3,328,600 tonnes in main domestic coastal oil mills, up 8,000 tonnes by 0.24% from 3,320,600 tonnes last week yet down by 41.94% from 5,733,700 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: Soybean meal stocks fall this week, as downstream buyers quicken their pace to pick up goods in preparation for the New Year’s Day and the Spring Festival. In the week as of December 13th, the inventory in mills in domestic coastal regions totals 392,000 tonnes, down 30,900 tonnes by 7.31% from 422,900 tonnes last week and down by 54.88% from 943,400 tonnes of the corresponding period last year. But soybean crush is expected to go up to 1.77 mln tonnes and 1.82 mln tonnes in the coming two weeks, which will help limit declines in soybean meal stocks.

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

Outstanding contracts: The amount of soybean meal in outstanding contracts decrease this week. In the week as of December 13th, outstanding contracts in mills in domestic coastal regions hold 3,332,500 tonnes unfinished, down 497,600 tonnes by 12.99% from 3,830,100 tonnes last week and down by 11.89% from 3,782,600 tonnes of the same period last year.

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