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Mysteel data show China's commercial soybean oil inventories reached nearly 1.5 million tonnes by Friday, up 4.3% year on year and the highest for this time of year since at least 2024. Crushing plants are running at high rates while consumer demand is weak as the economy slows.
COFCO Futures says the inventory pressure has not eased, and China's soybean oil exports continue to rise strongly.
Oversupply of soybean oil with weak domestic demand is bearish for soybean oil prices and pressures crushing margins. High crush rates keep soybean meal supplies ample, which weighs on meal prices for feed buyers.
dubaotiente.netNov 3, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
