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This was on par with the crush volume from the previous week and steady from the same period a month ago but up by 120,000 tonnes from 1.5 million tonnes crushed a year ago.
Imported soybean stocks at major crush plants in the week to May 1 were estimated at 4.93 million tonnes, an increase of 130,000 tonnes from 4.8 million tonnes the previous week, 220,000 tonnes more compared to month-ago levels of 4.71 million tonnes but 300,000 tonnes lower than the 5.23 million tonnes from the same period a year ago.
Soy product stocks in the week to May 1 both fell from week-ago levels, with soybean meal inventories recorded at 390,000 tonnes, down 80,000 tonnes from 470,000 tonnes the previous week.
The level was also 220,000 tonnes lower compared to 610,000 tonnes a month ago, but 310,000 tonnes higher versus the same period last year at 700,000 tonnes.
Soymeal stocks at the end of May are expected to rise to around 600,000 tonnes, following an expected increase in soybean crush activity, according to NFSRDC estimates.
Soybean oil inventories also fell to 800,000 tonnes from 840,000 tonnes the previous week, with the volume 50,000 tonnes less than month-ago levels of 850,000 tonnes but 190,000 tonnes more compared with year-ago stocks of 610,000 tonnes.
Palm oil stocks were estimated at 710,000 tonnes, 30,000 tonnes lower than 740,000 tonnes the previous week, and 90,000 tonnes less compared with 800,000 tonnes the previous month.
This was also 330,000 tonnes higher than year-ago levels of 480,000 tonnes.
Rapeseed oil stocks meanwhile were at 340,000 tonnes; 20,000 tonnes more compared with 320,000 tonnes the previous week and 60,000 tonnes higher than 280,000 tonnes in the previous month but 450,000 tonnes lower than the 790,000 tonnes recorded a year ago.
As a result, combined stocks of the three major vegetable oils in the week to May 1 reached 1.85 million tonnes, 50,000 tonnes lower from 1.9 million tonnes the previous week.
For the month of May, NFSRDC pegged total soybean crush volume at 8.5 million tonnes, with crushing activities expected to pick up following an increase in soybean arrivals in May, mostly from Brazil.
Total crush volume in April reached around 6.9 million tonnes, slightly lower than the earlier forecast 7 million tonnes, with the figure 1.4 million tonnes less than March but 1.5 million tonnes more compared with year-ago levels.
Soybean crush volume for the week ending May 8 is expected to fall to around 1.5 million tonnes, with crush activity reduced due to the extended Labor Day holiday between May 1-5.
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