China’s domestic soybean meal stocks to fall to 500 thsd tons by end-April
SunSirs, China’s National Commodity Analysis Center, reports that market monitoring shows that soybean meal inventories in China continue to decline. Some Chinese oilseed mills have been temporarily shut down for maintenance, leading to a significant reduction in productivity.
Total soybean crushing volumes this month are projected to decline by approximately 1 million tons compared to the previous month, leading to lower soybean meal production.
Due to restocking in the crushing sectors to meet tight demand, soybean meal inventories are expected to continue to decline, falling to approximately 500,000 tons by the end of the month, a decrease of approximately 100,000 tons compared to the previous month. However, they will remain approximately 400,000 tons higher than a year earlier and approximately 200,000 tons above the three-year historical average.
As a reminder, soybean meal reserves in the country showed steady growth from 400 thousand tons in June to 1.2 million tons by the end of the year amid active soybean purchases.
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