China’s Soybean Crush Weekly (Week 23, 2020)
Operation rates continue dropping this week (May 30-June 5), as some mills are facing swelling soybean meal inventories or temporary soybean shortages. Soybean crush at domestic mills totals 1,915,550 tonnes (meal 1,513,285 tonnes and oil 363,955 tonnes), down 150,550 tonnes or 7.28% from 2,066,100 tonnes in the previous week. Meanwhile, operation rates (capacity utilization) are 55.17%, down 4.34% from 59.51% in the previous week. Soybean crush is predicted to snap off the decline to increase to 2.03 mln tonnes and 2.06 mln tonnes in the next two weeks, respectively.
As of this week, soybean crush nationwide totals 57,504,964 tonnes in the soybean crop year of 2019/20 (from October 1st, 2019), down 343,021 tonnes or 0.59% from 57,847,985 tonnes of the same period last year. In calendar year of 2020 (from Jan. 1st, 2020), national soybean crush amounts to 35,521,450 tonnes, up 824,865 tonnes or 2.37% from 34,696,585 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:
