April soybean crush down slightly YOY

NOPA members crushed almost 160.0 million bushels of soybeans last month, down about 1 percent from April 2018. Some in the industry expected crush to surpass 161.6 million bushels and break last year’s record for the month, and while that didn’t happen, this season’s [...]

WASDE: Bearish corn & soybeans, sugar more steady

In the May 10 WASDE report, USDA’s 2019/20 forecasts left corn and soybeans in bearish territory, while sugar showed stability. U.S. corn stocks-to-use (STU) ratio was projected at nearly 17 percent, with ending stocks for 2019/20 expected to rise 16 percent compared to 2018/19. [...]

December soybean crush up 3 percent from last year

NOPA members reported crushing over 171.7 million bushels of soybeans last month, up 3 percent from November and from December 2017. Crush was a bit higher than the industry anticipated, which was around 170 million bushels, and confirms robust domestic demand continues for soybean [...]

Rise in daily ethanol production despite low profit margins

Daily ethanol production averaged 1.06 million barrels during the first half of November, up from 1.02 million barrels per day during the first half of October and nearly the same as a year ago. Ethanol manufacturers seem to be maintaining production volumes despite eroding [...]

Not enough demand for a large soybean crop in 2018/19

USDA is currently projecting record soybean ending stocks of 885 million bushels. However, this number could be underestimated without China’s demand. The current projection depends on 2018/19 exports decreasing just 69 million bushels or 1.88 million metric tons (MMT) from the previous season. However, [...]

Soybeans galore for 2018/19

USDA increased soybean yield once again to a record 53.1 bushels per acre (bpa). This increase, together with larger beginning stocks, left 2018/19 ending stocks projected at 885 million bushels, the largest ending stocks on record. The soybean fundamental picture remains bearish as long [...]

Corn oil as biodiesel feedstock: Another record month

In May, biodiesel manufacturers used 178 million pounds of distiller-grade corn oil (DCO), repeating April’s record volume. Since USDA began reporting this data in 2014, we’ve seen ethanol dry mills produce more DCO each year, with June’s 321 million pounds a record for the [...]