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

2020-02-14 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.	Jan. Proj.	Feb. Proj.	Jan. Proj.	Feb. Proj.
Beginning Stocks	1,350	1294	1384	1559	1559	1289	1289
Domestic Production	1,090	1265	1485	1590	1590	1600	1600
Imports	8,317	9220	9411	8280	8280	8900	9000
Total Supply	10,757	11779	12280	11429	11429	11789	11889

Crush	8,140	8800	8986	8500	8500	8700	8650
Domestic	190	137	200	210	210	230	210
Imported	7,950	8663	8786	8290	8290	8470	8440
Exports	15	15	15	15	15	15	15
Seeds	50	60	70	75	75	75	75
Food & Industrial Consumption	1,258	1520	1650	1550	1550	1580	1600
Total Use	9,463	10395	10721	10140	10140	10370	10340

Ending Stocks	1,294	1384	1559	1289	1289	1419	1549
Stock-to-use Ratio	13.72%	13.31%	14.54%	12.71%	12.71%	13.68%	14.98%

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