The National Oilseed Processors Association (NOPA) reported the June US soybean crush to be 1.4 percent below the May crush, but 3.1 percent over analyst expectations. Soybean oil stocks continued to move lower after reaching a seven-year high of 2.11 billion pounds in April. NOPA members crushed 167,263 million bushels of soybeans in June, down from 169,584 million in April. The June crush was 12 percent over the 148,873 crushed during June of 2019. Soybean meal exports climbed 7.6 percent to 835,403 tons in June and are 9 percent over last years pace.
Soybean oil stocks of 1.778 billion pounds were down 5.4 percent from May and two percent below ananlyst expectations. Soybean oil supplies fell 102 million pounds from May and were 35 million pounds below the average estimate of 1.813 million for June.
Cumulative bushels crushed by NOPA…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...