SunSirs: National Grain Corporation: China Domestic Soybean Crushing Volume was 1.97 Million Tons Last Week
July 30 2024 15:38:56 SunSirs (Selena)
On July 29th, the National Grain and Oil Information Center reported that some domestic oil factories shut down for maintenance last week. Although the soybean crushing volume has rebounded, it is still below 2 million tons.
Monitoring shows that as of last week, the domestic soybean crushing volume was 1.97 million tons, with a weekly increase of 70,000 tons and a month on month decrease of 21 tons. Compared with the same period last year and the average of the past three years, it decreased by 250,000 tons and 80,000 tons respectively. Recently, imported soybeans have been concentrated at the port, and the operating rate of oil plants will still be at a high level. It is expected that the soybean crushing volume of oil plants this week will be about 2.15 million tons
Due to the high operating rate of soybean oil plants, the pressure on soybean meal supply has doubled, and the market continues to decline, hitting new lows repeatedly.
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