The estimated crush margin fell 14 percent this week as soybean costs increased while revenue streams moved lower. Revenue from soybean meal sales decreased $3.50 per ton while soybean oil prices decline three percent. The value received from oil and meal sales per bushel of soybeans crushed declined from $9.92 per bushel to $9.75 while soybean prices increased three cents to $8.51 per bushel. This allowed the margin to narrow 14 percent, or 20 cents to $1.24 per bushel. The crush margin is 33 percent below levels seen at this time last year.
The National Oilseed Processors Association (NOPA) reported the US soybean crush hit a new all-time high during the month of March. NOPA members crushed 181.374 million bushels of soybeans during the month easily surpassing analysts’ estimates of 175.163 million. This…
11.15.2024
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