China’s Soybean Crush Weekly (Week 19, 2020)
Oil mills have maintained lower-than-forecast operation rates due to the May Day holiday and soybean shortages in several mills this week (May 2-8). Soybean crush at domestic mills totals 1,749,500 tonnes (meal 1,382,105 tonnes and oil 332,405 tonnes), down 27,500 tonnes or 1.5% from 1,777,000 tonnes in the previous week. Meanwhile, operation rates (capacity utilization) are 50.39%, down 0.79% from 51.18% in the previous week. Soybean crush will start the uptrend to around 1.98 mln tonnes and 2.01 mln tonnes in the next two weeks, respectively.
As of this week, soybean crush nationwide totals 49,564,914 tonnes in the soybean crop year of 2019/20 (from October 1st, 2019), down 944,771 tonnes or 1.87% from 50,509,685 tonnes of the same period last year. In calendar year of 2020 (from Jan. 1st, 2020), national soybean crush amounts to 27,538,500 tonnes, up 180,215 tonnes or 0.07% from 27,358,285 tonnes of the corresponding period in 2019.
Fig.: Soybean Weekly Crush in China (2016-2020)
Details for weekly crush by region and by group are shown as follows:
