Soybean crush in June in China

 

According to final detailed investigation and verification by Cofeed, soybean crush in oil mills in June totaled 8,733,150 tonnes (meal 6,899,189 tonnes and oil 1,659,299 tonnes), up 113,750 tonnes by 1.32% from 8,619,400 tonnes in May, and up by 18.09% from 7,395,400 tonnes in the corresponding period last year.

 

Soybean crush nationwide totaled 58,087,250 tonnes in the crushing year of 2019/2020 (from Oct. 1st, 2019), up 1,784,900 tonnes by 3.17% from 56,302,350 tonnes in 2018/2019. In calendar year of 2020 (from Jan. 1st, 2020), national soybean crush totaled 36,168,550 tonnes, up 3,123,700 tonnes by 9.45% from 33,044,850 tonnes in 2019.

 

Soybean Crush in June in China by Region (tonne)
Ranking	Region	1st-5th	6th-12th	13th-19th	20th-26th	27th-30th	Total
1	Shandong	254500	389500	406200	403200	233400	1686800
2	Jiangsu	299500	401200	435400	308900	195300	1640300
3	Guangdong	134700	230000	241300	240700	133600	980300
4	Guangxi	107500	170500	201500	216500	106000	802000
5	Liaoning	99500	182100	197100	180100	86200	745000
6	Tianjin	95000	130500	127500	141500	70000	564500
7	Hebei	96500	123500	125000	139500	74000	558500
8	Fujian	63100	98000	89600	99500	61000	411200
9	Zhejiang	59000	64400	82400	85400	48800	340000
10	Sichuan	44500	62300	32800	24300	19600	183500
11	Hubei	22750	29100	30700	28700	22400	133650
12	Shaanxi	22000	30800	30800	30800	17600	132000
13	Jilin	20000	28000	28000	28000	16000	120000
14	Henan	5000	19000	33400	39600	19200	116200
15	Hunan	14000	19600	19600	19600	11200	84000
16	Anhui	13500	18900	18900	15300	0	66600
17	Chongqing	7500	14000	14000	10000	8000	53500
18	Jiangxi	7500	10500	10500	10500	6000	45000
19	Shanghai	14500	17500	5000	0	0	37000
20	Heilongjiang	9000	12600	4000	0	0	25600
21	Inner Mongolia	0	0	0	3500	4000	7500
22	Xinjiang	0	0	0	0	0	0
23	Shanxi	0	0	0	0	0	0
	Total	1389550	2052000	2133700	2025600	1132300	8733150
Remarks: Above is the final data after verification.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Soybean imports in China

 

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

M/Y	2019	2020
Jan	737.70	783.77
Feb	446.00	567.56
Mar	492.00	427.78
Apr	764.00	671.45
May	736.00	937.69
Jun	651.32	1029.80
Jul	864.03	1032.10
Aug	948.07	940.00
Sept	819.66	810.00
Oct	618.14	730.00
Nov	827.76	740.00
Dec	954.24
Total	8858.92	8670.15

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

 

China imported 9,376,900 tonnes of soybeans in May, up by 2,662,400 tonnes or 39.65% from 6,714,500 tonnes last month and up by 2,035,100 tonnes or 27.72% from 7,341,800 tonnes the same period last year, according to China’s customs. And China’s soybean imports totaled 33,882,700 tonnes from January to May, increased by 2,152,500 tonnes or 6.78% from 31,730,200 tonnes in the previous year.

 

In light of supplier, Brazil was still the top supplier. China brought in 8,862,100 tonnes of soybeans from Brazil in May, an increase of 2,923,100 tonnes or 49.22% from 5,939,000 tonne a month earlier and an advance of 2,508,900 tonnes or 39.49% from 6,353,200 tonne in May last year. From January to May, China imported Brazilian soybeans totaling 22,039,600 tonnes, up by 189,800 tonnes or 0.87% from 21,849,800 tonnes of the corresponding period last year.

 

Besides, China imported 491,700 tonnes of soybeans from U.S., a decline of 173,900 tonnes or 26.13% from 665,600 tonnes last month and a fall of 414,400 tonnes or 45.73% from 906,100 tonnes last year. From January to May, China imported U.S. soybeans totaling 8,970,300, up by 3,755,000 tonnes or 72.00% compared with 5,215,300 tonnes a year earlier.

 

According to Cofeed, there were 157 cargoes of actual arrival totaling 10,298,000 tonnes of imported soybeans at ports in June. China is expected to receive 157.5 cargoes totaling 10,321,000 mln tonnes in July. Likewise, soybean arrivals forecast preliminarily at 9.40 mln tonnes in August, up by 0.2 mln tonnes than the previous week. Furthermore, the arrivals of soybean are first estimated to be 8.10 mln tonnes in September, 7.30 mln tonnes in October, 7.40 mln tonnes in November and 8.00 mln tonnes in December. Based on above estimate, China’s soybean imports are projected to be 96,213,800 tonnes in 2019/2020 (October-September, 2019/20), an increase of 13,418,900 tonnes or 16.21% from 82,794,900 tonnes that surveyed last year. Statistics will be updated every week on account of variable and unstable buying.

 

Monthly carryover stocks at ports in China

 

Soybean stocks continued recovering in June amid huge imports of soybeans. By the end of June, domestic imported soybean stocks totaled 7,213,500 tonnes, up by 1,213,100 tonnes or 20.21% from 6,000,400 tonnes in May and up by 38.29% from 5,216,000 tonnes of the same period last year. It is expected that soybean stocks will gradually climb up as a result of huge amount of arrivals in later period.

 

Soybean Crush Margins

 

Soybean Crush Margins in China (CNY/tonne)
Date	U.S. soybean	Brz. soybean	Arg. soybean	Distributed	Domestic
Jun. 1	66	65	104	-483	-1058
Jun. 2	72	69	109	-463	-1258
Jun. 3	76	52	110	-432	-1243
Jun. 4	57	47	83	-423	-1246
Jun. 5	63	54	87	-390	-1216
Jun. 8	47	28	35	-429	-1232
Jun. 9	40	23	27	-467	-1234
Jun. 10	42	24	28	-470	-1245
Jun. 11	33	-29	1	-475	-1250
Jun. 12	10	-47	-18	-485	-1232
Jun. 15	-22	-71	-36	-491	-1240
Jun. 16	-6	-70	-71	-491	-1234
Jun. 17	-52	-82	-96	-506	-1250
Jun. 18	-79	-117	-116	-497	-1238
Jun. 19	-62	-99	-98	-475	-1214
Jun. 22	-71	-71	-79	-482	-1210
Jun. 23	-36	-22	-75	-474	-1210
Jun. 24	-28	-22	-62	-484	-1219
Jun. 29	-83	-49	-80	-516	-1261
Jun. 30	-78	-35	-70	-504	-1248