China’s soymeal stocks reached a record 1.38 MMT as of July 26, according to the China National Grain & Oils Information Center. That was up 29% from the previous month and 86.5% above year-ago. Soybean stocks at crushing plants also continued to rise, totaling 7.12 MMT, up 14.3% from last month and 29.5% more than year-ago.
Rising soybean inventories and record soymeal stocks create a headwinds for U.S. new-crop soybean exports once harvest starts.
