The estimated crush margin edged fractionally higher this week as increased revenue was largely offset by a rise in soybean cost. Revenue from soybean meal sales increased nearly six dollars per ton, or two percent to $291.30, while soybean oil prices increased 3.7 percent to 26.82 cents per pound in Central Illinois. The value received from oil and meal sales per bushel of soybeans crushed moved from $9.72 per bushel to $9.96 while soybean prices increased 23 cents to $8.76 per bushel. This allowed the margin to expand a penny to $1.20 per bushel. The crush margin is 45 percent below levels seen at this time last year.
The US Department of Agriculture’s (USDA) April 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, 183.4 million…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...