According to CNGOIC estimates, which were reviewed in APK-Inform, the weekly volume of soybean processing in China as of January 17 amounted to 2.08 million tons, which is 5% higher than the result of the previous week and the same amount – the figure of the corresponding week a year earlier.
However, the pace of recycling is expected to slow down next week ahead of the Chinese New Year celebrations.
Soybean stocks in China as of this date are estimated at 4.3 million tons (-4% per week; + 3% per month; + 10% per year), soybean meal – at 480 thousand tons (-19%; + 30%; -25%), and soybean oil – at 710 thousand tons (unchanged; + 9%; -9%).