The estimated crush margin moved higher the seventh straight week in Central Il, raising just over three percent to a 71-week high. The value received from oil and meal sales per bushel of soybeans crushed increased from $12.64 per bushel to $12.94 while soybean prices pushed 23 cents higher, closing at $10.74 per bushel. This allowed the margin to expand seven cents to $2.20 per bushel.
Soybean, meal and soybean oil prices remain well supported relative to last year. Strong cash market gains and export demand sent nearby futures to four-year highs before retreating and closing with a small gain on Thursday. Soybean prices are 17 percent over last year’s value, soybean oil is 10 percent stronger, and meal prices are up 24 percent. The crush margin is 32 percent above where it stood on October 24, 2019 .
The National Oilseed Processors Association (NOPA)…
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