According to Cofeed, on the week as of July 24, details of soybean stocks and soybean meal stocks and outstanding contracts in coastal regions are as follows:

Soybean: Soybean stocks reduce a little bit in China this week, as soybean crush is higher than the quantity into the stock. In the week as of July 24, China’s imported soybean stocks in coastal regions total 5,738,100 tonnes, down 120,500 tonnes by 2.06% from 5,858,600 tonnes last week and up by 17.09% from 4,900,400 tonnes of the same period last year. Soybean stocks will gradually build up along with huge soybean arrivals in July and August.

Fig. 1: China’s coastal soybean carry-over stocks in recent years

Soybean meal: Soybean meal stocks are slightly lower along with quick soybean meal shipments and a decline in soybean crush. In the week as of July 24, China’s soybean meal stocks in coastal regions are 875,100 tonnes, down 3,900 tonnes by 0.44% from 879,000 tonnes last week yet up by 5.86% from 826,600 tonnes of the corresponding period last year. Soybean crush is predicted to stay high at 1.96 mln tonnes next week, so soybean meal stocks will not see sharp decline.

Fig. 2: China’s coastal soybean meal carry-over stocks in recent years

Outstanding contracts: The amount of soybean meal in outstanding contracts continues reducing this week. In the week as of July 24, outstanding contracts in mills in domestic coastal regions hold 4,081,100 tonnes not delivered, down 577,900 tonnes by 12.40% from 4,659,000 tonnes last week yet up by 38.24% from 2,952,100 tonnes of the same period last year.

Fig. 3: China’s coastal soybean meal in outstanding contracts in recent years