According to Cofeed, on the week as of August 14, details of soybean stocks and soybean meal stocks and outstanding contracts in coastal regions are as follows:

Soybean: Imported soybean inventories increase in coastal regions this week, as soybean vessels are arriving at ports and millers are unloading cargoes. In the week as of Aug 14, China’s imported soybean stocks in coastal regions total 6,189,200 tonnes, up 150,500 tonnes by 2.49% from 6,038,700 tonnes last week and up by 22.88% from 5,036,600 tonnes of the same period last year. Soybean stocks will gradually build up along with huge soybean arrivals in August.

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

Soybean meal: Soybean meal stocks continue the uptrend under high soybean crush. In the week as of Aug 14, China’s soybean meal stocks in coastal regions are 1,031,400 tonnes, up 96,400 tonnes by 10.31% from 935,000 tonnes last week and up by 22.47% from 842,100 tonnes of the corresponding period last year. Soybean crush is predicted to stay high at 2 mln tonnes next week, so soybean meal stocks may continue to increase.

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

Outstanding contracts: The amount of soybean meal in outstanding contracts slightly decreases this week. In the week as of Aug 14, outstanding contracts in mills in domestic coastal regions hold 5,586,200 tonnes not delivered, down 297,400 tonnes by 5.05% from 5,883,600 tonnes last week yet up by 44.52% from 3,865,300 tonnes of the same period last year.

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