SunSirs: Expected Soybean Crushing Volume of 9 Million Tons in China Oil Plants in August

On August 5th, the National Grain and Oil Information Center reported that since June, soybean inventories in domestic oil factories have continued to rise, exceeding 7 million tons at the end of July. Shipping schedule monitoring shows that there will still be a large amount of imported soybeans arriving at ports in China from August to September, with an expected arrival of 8 million tons in August and 7.6 million tons in September. Recently, domestic imported soybean inventories will be at a high level. It is expected that the start-up rate of oil plants will be at a high level in August, and the monthly soybean crushing volume will be around 9 million tons.

The soybean meal analyst from Shengyi Society believes that the operating rate of soybean oil plants increased in August, the monthly crushing volume of soybeans increased, and the supply of soybean meal continued to be loose, putting pressure on the upward trend of the market.

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