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
Posted by: Information Services Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.