Record growth in soybean processing and stocks in China

News from the world of soybeans: record growth in processing and stocks in China!

Friends, we have amazing news from China! According to the latest data from the China National Grain and Oil Information Center (CNGOIC), the country's soybean processing volume increased by as much as 9% from November 18 to November 24! This is simply incredible! China continues to amaze us with its achievements in agriculture.

Now let's look at the numbers. Soybean processing volume reached 2 million tons, up 2% from last week and 2% higher than the same period a year earlier. This is truly impressive growth!

But that is not all! Soybean stocks in China also increased by 2% over the week. According to the latest data, as of November 24 they amount to as much as 4.9 million tons! That's an increase of 13% for the month and a whopping 40% year-over-year. Simply incredible numbers!

What about soybean meal and soybean oil stocks? They're not far behind either! China's soybean meal inventories stand at 740 thousand tons, up 1% from last week and up a whopping 236% from 2022. And soybean oil reserves increased by 6%, reaching 900 thousand tons. This is an increase of 32% compared to last year. Simply amazing results!

China continues to amaze us with its achievements in agriculture. This record growth in processing and increased soybean inventories is truly important news for the entire industry. We look forward to seeing what happens next and what other records China will set. We will monitor developments!