The March 2022/23 U.S. corn outlook is for lower exports and increased ending stocks compared to February estimates. USDA lowered exports by 75 million bushels due to the slow pace of shipments and sales. Ending stocks were raised, above expectations. The 2022/23 U.S. soybean [...]
December crush missed analysts’ expectations: At 177.51 million bushels, soybean crush was the third highest for the month, behind December 2021 (186.4 million bushels) and 2020 (183.2 million bushels). NOPA processors crushed 1.7 million fewer bushels than this last November and 8.9 million bushels [...]
U.S. capacity for renewable diesel production rose to 2.134 billion gallons during Aug-Oct 2022, up 45 percent from capacity at the beginning of the year. This has affected the demand for soybean oil, the primary feedstock for renewable diesel. In the 2022/23 marketing period, [...]
November crush was about the same YOY: At 179.2 million bushels, crush was the third highest for the month, behind November 2020 (181.0 million bushels) and 2021 (179.5 million). NOPA processors crushed 5.3 million fewer bushels than this last October and 278,000 bushels fewer [...]
Today’s WASDE report delivered a few modest changes to the U.S. balance sheets for wheat, corn, and soybeans, leaving ending stocks a bit higher from the October estimate for corn and soybeans and slightly lower for wheat. USDA tweaked 2022/23 wheat use for food [...]
Soybean crush declined seasonally in September, although the dip was somewhat greater than analysts expected. NOPA members crushed 158.1 million bushels of soybeans last month, up 3 percent from September 2021 and just above the average for the month we’ve seen since 2017/18 (when [...]
USDA reduced acreage and yield estimates for 2022/23 corn and soybeans. The declines in both crops’ production numbers were partially offset by lower use forecasts, but ending stocks are still expected to drop notably from 2021/22 in a highly competitive market. For corn, the [...]
Soybean crush slowed down seasonally in June: NOPA members crushed 164.7 million bushels, down 4 percent from May and the lowest crush since last September—but still up from last season’s level. Crush in 2021/22 has closely followed 2019/20’s pace since February, and if it [...]
