Soybean stocks in China are declining
By early February, soybean stocks in China are estimated at about 5.3 million tons, according to analysts at the National Grain and Oil Information Center (CNGOIC).
Over the month the oilseed residues in China sagged by 19% at once. At the same time to the same date last year there is a decline of only 0.4%.
“Despite the decline in soybean stocks over the week, the volume of processing of oilseed is also declining on the eve of the Chinese New Year,” experts explain.
They note that from January 27 to February 2, the country processed about 1.9 million tons of beans – 4% below the previous month’s result, but 50% above the level in the same period in 2023.
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