China’s soybean stocks decline for the fourth week in a row

China’s soybean stocks fell by 5% to 4.6 million tons in the week ended September 23, according to CNGOIC (China National Grain and Oil Information Center). According to experts, this is the fourth weekly decline in a row, which indicates high demand for oilseeds from processing plants.

In particular, from 17 to 23 of the current month, the volumes of soybean processing increased by 5% to 2.2 mln tonnes, which is also 5% higher than in the same period a year earlier.

The stocks of soybean meal in the country increased by 9% to 840 thsd tonnes over the week (+9% for the month; +98% y-o-y), and soybean oil – by 2% to 910 thsd tonnes (-1%; +20%).

Tags: soybean, China