According to Cofeed, on the week as of December 20th, 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. In the week as of December 20th, imported soybean stocks in mills in domestic coastal regions total 3,719,300 tonnes in main domestic coastal oil mills, up 390,300 tonnes by 11.74% from 3,328,600 tonnes last week yet down by 34.19% from 5,651,700 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 increase this week as soybean crush returns to a high level of 1.85 mln tonnes. In the week as of December 20th, the inventory in mills in domestic coastal regions totals 435,800 tonnes, up 43,800 tonnes by 11.17% from 392,000 tonnes last week yet down by 54.16% from 950,900 tonnes of the corresponding period last year. Soybean meal stocks may continue to climb higher slightly as soybean crush is estimated at 1.88 mln tonnes next week and 1.90 mln tonnes that following week. 

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 20th, outstanding contracts in mills in domestic coastal regions hold 2,722,000 tonnes unfinished, down 610,500 tonnes by 18.32% from 3,332,500 tonnes last week and down by 28.17% from 3,789,800 tonnes of the same period last year.

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