NOPA Reports October Crush as Third Highest of All-Time

The National Oilseed Processors Association (NOPA) US October soybean crush reached a nine-month high and exceeded market expectations.  Analysts had been expecting the crush to rise 18.3 percent to 181.945 million bushels.  However, final crush tabulations showed the crush was 183.993 million bushels, a gain of 19.6 percent from September and the third largest crush of any month on record.  The October 2021 crush was 0.68 percent lower than the October 2020 crush.  The USDA left the 2020/21 and 2021/2022 crush expectations unchanged in the latest WASDE report.  The 2021/22 crush is expected to reach 2.19 billion bushels of soybeans, a 2.29 percent increase over the 2020/21 crush.

Soybean oil stocks registered a 17-month high, coming in above analyst expectations.  Stocks reached 1.834 billion pounds versus a 1.724-billion-pound estimate. October ending stocks were…