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soy-oilseeds feed-grains

China In-Country Analysis

Oilseeds Soymeal Inventory Continues to Drop The nationwide estimated soymeal inventory tumbled further following the five-day Labor Day holiday celebrations (1-5 May) to reach 590,700 MT as of 10 May 2019, a drop of 31,500 MT (-5.1 percent) from the last full week in April. While official data was not available last week, the inventory actually gained 35,400 MT (+5.7 percent) during the week ended 3 May 2019 as demand slumped because of the holiday. However, the real story is how much lower the inventory is than a year ago. Compared with the same week in May 2018, last week’s estimated total was down 625,100 MT (-51.4 percent). The primary drivers of the year-on-year decrease are declines in feed demand in the Shandong and East reg...

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