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soy-oilseeds feed-grains

China In-Country Analysis

Oilseeds Soymeal Inventory Reverses Course With the brief holiday concluded, the increased cost of soybeans and reduced crush output pushed soymeal inventories down last week. The estimated nationwide total fell 40,900 MT (-5.21 percent) to 785,100 MT as of 13 April, but that is up 158,600 MT (+25.3 percent) versus the second week of April 2017. Although there were declines in most regions, estimated inventories rose in Fujian, Guangxi, and Shandong with the latter experiencing the biggest increase for the second week in a row as stocks there climbed 18,900 MT (+15.01 percent). Looking ahead, there shouldn’t be a run-up in soymeal inventories any time soon because of the higher prices and modest crushing rates. The national inventor...

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