Cofeed：China Soybean Supply and Demand Estimates (Jan, 2020)

2020-01-13 www.cofeed.com

Domestic Soybean Supply & Demand Estimates (Crop year: Oct.-Sept; 0’000 tonnes)
Item/Year	2015/16	2016/17	2017/18	2018/19		2019/20
	Est.	Est.	Est.	Dec. Proj.	Jan. Proj.	Dec. Proj.	Jan. Proj.
Beginning Stocks	1,350	1294	1384	1559	1559	1249	1289
Domestic Production	1,090	1265	1485	1500	1590	1600	1600
Imports	8,317	9220	9411	8280	8280	8700	8900
Total Supply	10,757	11779	12280	11339	11429	11549	11789

Crush	8,140	8800	8986	8500	8500	8600	8700
Domestic	190	137	200	210	210	230	230
Imported	7,950	8663	8786	8290	8290	8370	8470
Exports	15	15	15	15	15	15	15
Seeds	50	60	70	75	75	75	75
Food & Industrial Consumption	1,258	1520	1650	1500	1550	1580	1580
Total Use	9,463	10395	10721	10090	10140	10270	10370

Ending Stocks	1,294	1384	1559	1249	1289	1279	1419
Stock-to-use Ratio	13.72%	13.31%	14.54%	12.38%	12.71%	12.45%	13.68%

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