Soybean processing volumes in China are still below last year’s volumes
According to China National Grain and Oil Information Centre, soybean processing in China in the period from December 9 to 15 slightly increased by 1% compared to the previous week, reaching 1.9 million tons. However, processing still remains 10% below a year earlier.
National soybean stocks declined 3% this week to 5.3 million tons (+11% from last month and +31% from a year ago).
As of December 15, PRC soybean meal stocks are estimated at 880,000 tons (+6% for the week, +21% for the month and +138% y/y). Soybean oil stocks are 930 thousand tons (unchanged for the week, +11% for the month and +43% YoY).
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