The estimated crush margin fell nine percent lower revenue from soybean oil and meal sales, despite falling soybean cost. Revenue from soybean meal sales decreased $7.00 per ton while soybean oil prices were down 2.3 percent. The value received from oil and meal sales per bushel of soybeans crushed declined from $9.92 per bushel to $9.69 while soybean prices fell 12 cents to $8.51 per bushel. This allowed the margin to narrow nine percent, or 11 cents to $1.18 per bushel. The crush margin is 39 percent below levels seen at this time last year.
The US Department of Agriculture’s (USDA) March crush data was in line with expectations from the data previously released by the National Oilseed Processors Association (NOPA) in mid-April. Per the USDA, 192.2 million bushels of beans were crushed during March, resulting in 2.2 billion…
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