China soybean stocks at 10-mth low as Brazilian cargo delays weigh

Soybean stocks level in China fell for the fourth consecutive week to hit the lowest level since mid-May last year as delays of...

Soybean stocks in China fell for the fourth consecutive week to hit the lowest level since May as delays to cargo loadings in Brazil weighed on supply.

Commercial soybean stocks slid 390,000 mt to 4.66 million mt last week, down 1.28 million mt from the same point last month but still up 1.41 million mt year-on-year, according to data from China’s National Grain and Oil Information Centre (CNGOIC) on Thursday.

“Soybean [vessel] landings at ports were still low, soybean stocks continued to fall… it is expected that the stocks level will remain in a downward trend,” said CNGOIC.

Lower bean stocks also dampened crushers’ operation rate with total soybean crush volume down 10,000 mt to 1.56 million mt last week.

Despite lower crush volume, soymeal stocks flatlined at 760,000 mt as procurement from feed companies slowed.

Meanwhile, soyoil stocks fell 60,000 mt to 680,000 mt, down 190,000 month-on-month and 590,000 lower than the same point last year.

What to read next
A potential lifting of China’s sanctions on the import of Australian metallurgical coal and China’s post-Covid-19 recovery will be key factors to watch in 2023, market sources told Fastmarkets on Wednesday January 4
Key takeaways from the OCC outlook session at the International Containerboard Conference by our director of fiber, Hannah Zhao
China’s reduced demand has negatively affected the market for North America
The largest recycled packaging board producer is China is planning to rapidly expand board production next year
After a consultation period, Fastmarkets is decreasing the frequency of its cfr China steel billet price assessment to once per week, from twice per week, from Tuesday October 18
UG2/MG chrome ore prices experienced major declines in the week to Tuesday July 12, dropping by $15 per tonne week on week, as the market saw the beginnings of a break in the continuing stalemate of recent weeks
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.