# China Soymeal Stocks Reach Record Level - AgWeb

> China's soymeal stocks reached a record 1.38 million tonnes as of July 26, according to the China National Grain & Oils Information Center, up 29% month on month and 86.5% year on year. Soybean stocks at crushing plants rose to 7.12 million tonnes, up 14.3% from the prior month.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: report · region China · magnitude medium
- Page: https://feedsoft.ai/events/29312-china-soymeal-stocks-reach-record-level-agweb
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Record Chinese soymeal and soybean inventories reduce near-term import demand and weigh on export prospects for new-crop US soybeans and meal. Bearish pressure on soybean and soymeal prices is likely as harvest begins.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2019-06-28 | [Soybean stocks at record levels - Brownfield Ag News](https://feedsoft.ai/events/58538-soybean-stocks-at-record-levels-brownfield-ag-news.md) | -2.7% | -2.9% |
| SBM | 2019-03-29 | [U.S. March Soybean Stocks Hit Record High, USDA Data Drops Markets](https://feedsoft.ai/events/60042-u-s-march-soybean-stocks-hit-record-high-usda-data-drops-markets.md) | +1.8% | -2.2% |
| SBM | 2019-11-25 | [AgriMarketing.com - U.S. Soybean Crushings Surge To Record Levels In October](https://feedsoft.ai/events/56126-agrimarketing-com-u-s-soybean-crushings-surge-to-record-levels-in-october.md) | -2.6% | +0.8% |
| SBM | 2023-07-12 | [Record-Large Corn Crop, Higher Stockpiles Send Grain and Soy to Big Losses](https://feedsoft.ai/events/34981-record-large-corn-crop-higher-stockpiles-send-grain-and-soy-to-big-losses.md) | +5.0% | +3.5% |
| SBM | 2020-11-17 | [Soybean oil stocks rise slightly despite record-smashing October crush - McKeany-Flavell](https://feedsoft.ai/events/50219-soybean-oil-stocks-rise-slightly-despite-record-smashing-october-crush-mckeany.md) | +1.4% | -0.3% |
| SOY | 2019-06-28 | [Soybean stocks at record levels - Brownfield Ag News](https://feedsoft.ai/events/58538-soybean-stocks-at-record-levels-brownfield-ag-news.md) | -1.7% | -0.5% |
| SOY | 2023-05-15 | [USDA Ending Stocks Reveal Record Projections for Corn and Soybeans - ProAg](https://feedsoft.ai/events/35890-usda-ending-stocks-reveal-record-projections-for-corn-and-soybeans-proag.md) | -8.9% | -4.3% |
| SOY | 2019-02-08 | [U.S. Soybean Inventories at Record Levels](https://feedsoft.ai/events/60564-u-s-soybean-inventories-at-record-levels.md) | -1.1% | -3.2% |

## Sources

- agweb.com: https://www.agweb.com/markets/pro-farmer-analysis/china-soymeal-stocks-reach-record-level

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.