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Last week, domestic soybean commercial inventory declined, while soybean meal rose.
Monitoring shows that on March 20, major oil refineries across the country held soybean imports totaling 4.84 million tons, a weekly decrease of 160,000 tons, a monthly increase of 290,000 tons, and a year-on-year increase of 2.08 million tons, which is 1.63 million tons higher than the average of the past three years. Soybean meal stocks stood at 620,000 tons, up 30,000 tons week-on-week, down 170,000 tons month-on-month, and down 140,000 tons year-on-year, which is 70,000 tons higher than the average for the same period over the past three years. (National Grain and Oil Information Center)