NOPA members crushed 175.4 million bushels of soybeans in October, up 2 percent from October 2018, the previous record holder.

Soybean oil yield fell to 11.57 pounds per bushel in October, compared to 11.71 pounds a year ago, but the high volume of crush allowed for record soybean oil production of 2.03 billion pounds. Monthly oil ending stocks, however, declined by 18.72 million pounds to 1.42 billion, a 5 percent YOY decline.

NOPA members’ exported soybean meal volume was just under 895,000 tons, down 7 percent YOY, as more meal is being consumed domestically.

Monthly soybean oil production

Source: NOPA/Reuters
Posted by: Information Services
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