According to final detailed investigation and verification by Cofeed, soybean crush in oil mills in January totals 5,913,000 tonnes (meal 4,671,270 tonnes and oil 1,123,470 tonnes), down 2,187,800 tonnes by 27.01% from 8,100,800 tonnes in December, and down by 16.95% from 7,120,000 tonnes of the same period last year.

 

Soybean crush nationwide totals 27,831,700 tonnes in the crushing year of 2019/2020 (from Oct. 1st, 2019), down 2,545,800 tonnes by 8.38% from 30,377,500 tonnes in 2018/2019. In calendar 2020 (from Jan. 1st, 2020), national soybean crush totals 5,913,000 tonnes, down 1,207,000 tonnes by 16.95% from 7,120,000 tonnes in 2019.

 

 

 

China’s Customs: Soybean Imports in China by Month (0’000 tonnes)

 

Remarks: Imports from January to June in 2020 were surveyed and estimated by Cofeed

 

According to Chinese customs, China imported 9,542,400 mln tonnes of soybeans in December 2019, up by 1,264,800 tonnes or 15.28% from 8,277,600 tonnes in the previous month and up 3,819,100 tonnes or 66.73% from 5,723,300 tonnes the same period last year. From January to December in 2019, China’s import for soybean totaled 88,509,900 tonnes, an increase of 474,300 tonnes or 0.54% from 88,035,600 the same period last year.

 

According to Cofeed, there were 111 cargoes with 7.176 mln tonnes of soybeans arriving at domestic port in January 2020. And The import is predicted to be 4.967 mln tonnes of 76 cargoes for February, 5.1 mln tonnes for March, 7.50 mln tonnes for April, 8.10 mln tonnes for May and 8.70 mln tonnes for June. Statistics will be updated every week on account of variable and unstable buying.

 

 

Soybean stocks continue to rally in January due to a sharp decline of soybean crush during the Lunar New Year holiday. By the end of January, domestic imported soybean stocks total 5,267,400 tonnes, up by 1.25% from 5,202,000 tonnes in December but down by 13.33% from 6,078,000 tonnes of the corresponding period last year. The arrivals of soybean in February are small. Meanwhile, most oil mills have delayed the production affected by the novel coronavirus pneumonia epidemic. Accordingly, the soybean stocks are predicted to be little changed due to lower-than-expected soybean crush after Spring Festival.