Soybean crush in July in China

According to final detailed investigation and verification by Cofeed, soybean crush in oil mills in July totaled 8,941,500 tonnes (meal 7,063,785 tonnes and oil 1,698,885 tonnes), up 208,350 tonnes by 2.39% from 8,733,150 tonnes in May, and up by 33.29% from 6,708,300 tonnes in the corresponding period last year.

 

Soybean crush nationwide totaled 73,762,150 tonnes in the crushing year of 2019/2020 (from Oct. 1st, 2019), up 3,808,650 tonnes by 5.44% from 69,953,500 tonnes in 2018/2019. In the calendar year of 2020 (from Jan. 1st, 2020), national soybean crush totaled 51,839,650 tonnes, up 4,943,650 tonnes by 10.54% from 46,896,000 tonnes in 2019.

 

Soybean Crush in July in China by Region (tonne)
Ranking	Region	1st-3rd	4th-10th	11th-17th	18th-24th	25th-31st	Total
1	Jiangsu	198200	401200	412400	351400	408600	1771800
2	Shandong	167700	389200	367900	348900	346900	1620600
3	Guangdong	120700	224700	236900	208400	237700	1028400
4	Liaoning	72900	169100	181600	178100	197100	798800
5	Guangxi	86000	139000	154000	156000	220500	755500
6	Hebei	55500	129500	137500	157500	126500	606500
7	Tianjin	53000	133000	148000	141500	112500	588000
8	Fujian	46000	77000	82100	96500	88000	389600
9	Zhejiang	33000	72000	56700	85400	75400	322500
10	Sichuan	41700	83300	53300	50300	59300	287900
11	Hubei	18300	49700	35000	38600	45700	187300
12	Henan	5400	28600	33600	27600	34600	129800
13	Shaanxi	13200	10400	22400	22400	22400	90800
14	Jilin	4000	12000	28000	28000	16000	88000
15	Hunan	3000	16000	19600	19600	17800	76000
16	Chongqing	2000	17500	17500	17500	7500	62000
17	Anhui	2400	9900	16500	10500	13500	52800
18	Jiangxi	4500	10500	10500	10500	10500	46500
19	Shanghai	0	0	0	5000	12500	17500
20	Heilongjiang	0	0	4000	5600	5600	15200
21	Inner Mongolia	3000	0	0	0	3000	6000
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	937.71
Jun	651.32	1116.02
Jul	864.03	962.50
Aug	948.07	1035.80
Sept	819.66	880.00
Oct	618.14	810.00
Nov	827.76	750.00
Dec	954.24	780.00
Total	8858.92	9722.59

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

 

China imported 11,160,200 tonnes of soybeans in June, up by 1,783,100 tonnes or 19.02% from 9,377,100 tonnes a month earlier and up by 4,698,100 tonnes or 72.70% from 6,462,100 tonnes the same period last year, according to China’s customs. And China’s soybean imports totaled 45,043,300 tonnes from January to June, an increase of 6,851,000 tonnes or 17.94% versus 38,192,300 tonnes in the previous year.

 

In light of supplier, Brazil was still the top supplier. China brought in 10,512,000 tonnes of soybeans from Brazil in June, an increase of 1,649,400 tonnes 18.61% from 5,939,000 tonne a month earlier and an advance of 5,064,800 tonnes or 92.98% from 5,447,200 tonne in June last year. From January to June, China imported Brazilian soybeans totaling 32,552,300 tonnes, up by 5,255,300 tonnes or 19.25% from 27,297,000 tonnes of the corresponding period last year.

 

Besides, China imported 267,600 tonnes of soybeans from U.S. in June, a decline of 223,900 tonnes or 45.55% from 491,500 tonnes last month and a fall of 347,200 tonnes or 56.47% from 614,800 tonnes last year. From January to June, China’s soybean imports from U.S. amounted to 9,237,500 tonnes, up by 3,407,400 tonnes or 58.44% compared with 5,830,100 tonnes a year earlier.

 

According to the survey by Cofeed, there were 147 cargoes of actual arrival totaling 9,625,000 tonnes of imported soybeans at ports in July. China is expected to receive 158 cargoes totaling 10,358,000 mln tonnes in August. Likewise, the arrivals of soybean are first estimated to be 8.80 mln tonnes in September, 8.10 mln tonnes in October, 7.50 mln tonnes in November and 7.80 mln tonnes in December. Based on above estimate, China’s soybean imports are projected to be 96,944,800 tonnes in 2019/2020 (October-September, 2019/20), an increase of 14,149,900 tonnes or 17.09% 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 July amid huge imports of soybeans. By the end of July, imported soybean stocks in China totaled 7,394,900 tonnes, up by 181,400 tonnes or 2.51% from 7,213,500 tonnes in June and up by 12.47% from 6,574,500 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
Jul. 1	-45	-19	-53	-439	-1200
Jul. 2	-21	14	-39	-385	-1155
Jul. 3	-18	17	-51	-383	-1157
Jul. 6	44	90	9	-329	-1106
Jul. 7	36	82	-3	-334	-1118
Jul. 8	40	77	-4	-334	-1136
Jul. 9	56	92	5	-342	-1141
Jul. 10	32	65	-20	-352	-1142
Jul. 13	55	93	-1	-389	-1141
Jul. 14	94	127	43	-387	-1142
Jul. 15	128	163	62	-361	-1118
Jul. 16	140	170	78	-332	-1096
Jul. 17	147	180	104	-282	-1066
Jul. 20	204	241	167	-219	-1032
Jul. 21	194	217	158	-215	-1011
Jul. 22	212	256	200	-202	-1008
Jul. 23	220	255	200	-180	-994
Jul. 24	226	261	206	-157	-968
Jul. 27	273	302	253	-111	-917
Jul. 28	223	230	204	-167	-1000
Jul. 29	222	205	180	-179	-1003
Jul. 30	245	228	188	-170	-1021
Jul. 31	234	216	177	-164	-1005