NOPA April Crush Exceeds Expectations, Soybean Oil Stocks Hit Record Level 

The estimated crush margin improved as revenue streams from soybean oil and meal sales held somewhat steady while soybean cost declined. Revenue from soybean meal sales increased 10 cents per ton higher while soybean oil prices shifted fractionally lower. The value received from oil and meal sales per bushel of soybeans crushed declined from $9.69 per bushel to $9.68 while soybean cost dropped 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 National Oilseed Processors Association (NOPA) reported the April US soybean crush fell 5.3 percent below the all-time record crush in March.  The April crush did exceed expectations, surpassing analysts’ estimates for the fifth consecutive month, and showing the…