According to Cofeed, on the week as of Apr 2, details of soybean stocks and soybean meal stocks and outstanding contracts in coastal regions are as follows:

Soybean: Soybean stocks continue reducing this week as the volume put into mill stock remains small. In the week as of Apr 2, China’s imported soybean stocks in coastal regions total 3,798,500 tonnes, down 149,100 tonnes by 3.78% from 3,947,600 tonnes last week and up by 51.73% from 2,503,300 tonnes from a year earlier.  

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

Soybean meal: Soybean meal stocks increase this week on slow shipments as mid-to-downstream buyers remain cautious. In the week as of Apr 2, China’s soybean meal stocks in coastal regions are 774,400 tonnes, up 31,300 tonnes by 0.30% from 743,100 tonnes last week and also up 183.97% from 272,700 tonnes from a year earlier.

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

Outstanding contracts: The amount of soybean meal in outstanding contracts sharply mounts higher this week, which spans from March to April. In the week as of Apr 2, outstanding contracts in mills in domestic coastal regions hold 4,683,000 tonnes not delivered, up 1,790,500 tonnes by 61.90% from 2,892,500 tonnes last week and up 82.82% from 2,561,500 tonnes year over year.

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