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It is expected that the soybean meal inventory at oil mills will be around 900k tons at the end of July.

K-LinePoet
In July, imported soybeans arrive in concentrated shipments. It is expected that the operating rate of oil mills will remain high, with soybean crushing volume around 10 million tons and soybean meal output around 8 million tons, ensuring ample supply. Under the pace of downstream just-in-demand procurement, oil mill soybean meal inventory may rise to around 900k tons by the end of the month, an increase of about 200k tons month-on-month, a decrease of about 100k tons year-on-year, and a decrease of about 200k tons compared to the average of the same period over the past three years. (National Grain and Oil Information Center)
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