The estimated crush margin edged fractionally lower on a weekly basis in Central IL, ending a run of seven consecutive weeks of improved values after reaching a 71-week high last week. The value received from oil and meal sales per bushel of soybeans crushed declined from $12.94 per bushel to $12.79 while soybean prices fell 15 cents, closing at $10.59 per bushel. This allowed the margin to remain at $2.20 per bushel.
Soybean, meal and soybean oil prices remain well supported relative to last year. Strong cash market gains and export demand leave pricing, despite this week’s pull=back, at levels not seen since 2018. Soybean prices are 17 percent over last year’s value, soybean oil is 11 percent stronger, and meal prices are up 23 percent. The crush margin is 32 percent above where it stood on October 31, 2019.
The National Oilseed Processors Association (NOPA)…
11.13.2024
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