# Why China's soybean meal stocks are rising

China's soybean meal inventories reached 1.389 million tonnes on October 30 as crushing recovered and feed demand remained slow. Mysteel expects stocks to remain above 1.2 million tonnes through November.

Published 2026-11-06 by the Feedsoft Markets Desk. Covers: SBM.

Video (36s): https://feedsoft.ai/media/social/52/youtube-5605137e01.mp4

## Transcript

- **China's meal stocks keep building** Soybean meal inventories reached 1.389 million tonnes on October 30, the highest since August.
- **Three weeks of gains** Stocks rose 27.4% from after the National Day holiday.
- **Why meal is accumulating** Crusher operating rates recovered to 60–67%, while slow feed demand and cautious buying failed to absorb output.
- **What to watch next** Mysteel expects stocks above 1.2 million tonnes through November. A decline in the second half of December is possible if holiday buying grows and crushers slow.

Full analysis: https://feedsoft.ai/events/83605-mysteel-analysis-soybean-meal-stocks-hit-record-highs-when-will-supply-pressure

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