NOPA members reported crushing over 161 million bushels of soybeans last month—a record for the month and up 16 percent from April 2017—to keep up with demand for soybean meal; meal production was up 17 percent from a year ago. Soybean oil stocks continued to increase and at 2.1 billion pounds were near a five-year high.
Global demand for U.S. soybean meal remains strong, with cumulative exports up 8 percent year over year. Last week USDA increased projected 2017/18 meal exports to 12.7 million tons, up from April’s forecast of 12.5 million.
NOPA monthly soybean oil stocks, 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.