The estimated crush margin increased four percent this week as soybean revenue streams improved faster than the cost of soybeans. Revenue from soybean meal sales increased $4.50 per ton over the week while soybean oil prices increased more than two percent. The value received from oil and meal sales per bushel of soybeans crushed moved from $9.75 per bushel to $9.92 while soybean prices increased 12 cents to $8.63 per bushel. This allowed the margin to expand four percent, or five cents to $1.29 per bushel. The crush margin is 28 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…
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