According to Cofeed, on the week as of Apr 9, 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 9, China’s imported soybean stocks in coastal regions total 3,732,200 tonnes, down 66,300 tonnes by 1.75% from 3,798,500 tonnes last week and up by 47.80% from 2,525,100 tonnes from a year earlier.  

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

Soybean meal: Soybean meal stocks decrease this week as the crush drops to a low level of 1.35 mln tonnes and on improving trade in soybean meal market. In the week as of Apr 9, China’s soybean meal stocks in coastal regions are 725,500 tonnes, down 48,900 tonnes by 6.31% from 774,400 tonnes last week and also up 332.35% from 167,800 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 on better trade in the market. In the week as of Apr 9, outstanding contracts in mills in domestic coastal regions hold 4,735,300 tonnes not delivered, up 52,300 tonnes by 1.12% from 4,683,000 tonnes last week and up 9.48% from 4,324,900 tonnes year over year.

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