NOPA processors’ March crush, 178.0 million bushels, was down 2 percent from last March but still the second highest on record for the month and reflected a good recovery from February’s low volume.
In the April WASDE, USDA lowered 2020/21 crush by 10 million bushels, to 2.019 billion, citing higher meal and oil yields and a small decline in projected domestic meal demand.
Soybean oil yield in March was 11.84 pounds per bushel, an 18-month high, and allowed oil production to post slight year-over-year growth at 2.11 billion pounds. The monthly add to stocks was modest, though, as demand remains strong: March soybean ending stocks were around 1.77 billion pounds.
NOPA soybean crush by season
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.